There's enough uncertainty about the size of the rate cut to make it a pretty sloppy auction.
More Quotes from Kim Rupert:
I don't put a lot of faith in the month-to-month swings in the trade data, but we had expected a modest widening in the gap. This narrowing will feed into a little bit more positive reading to second-quarter GDP.Kim Rupert
People don't see a lot of value in a 10-year note that currently is yielding above the Fed funds rate but will not be in a week.
Kim Rupert
It's a done deal. We're looking for a fairly long, drawn out Senate trial.
Kim Rupert
The yield initially knee-jerked lower on the weak durable goods data and the Saudi news.
Kim Rupert
The post-auction gains were used as a selling opportunity.
Kim Rupert
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