Thursday, July 9, 2009

Record 11 Billion 30Y Auction is Pivotal for the GATT Rate

30Y Auction Results will be released today at 1:00 PM EST. If the bid-to-cover comes in as strong as yesterday's 10y, we could see rates hover around the 4.20% level for a while, if not, we're in for a wide ride to the upside--perhaps to 5% or more.