All the Treasury auctions saw weak demand this week, indicating bond buyers think yields are headed higher. By Amey Stone May 11, 2017 1:58 p.m. ET A weak 30-year bond auction Thursday was added to the disappointing 10-year and three-year auctions earlier in the week, a phenomenonPeter Boockvar of The Lindsey Groupcalls a "hat trick of weak Treasury auctions." He writes of Thursday's $15 billion auction: The yield at 3.05% was about 1.5 bps above the when issued. The bid to cover of 2.19 was below the one year average of 2.30 and dealers got stuck with almost 36% of the auction vs the 12 month average of 29%. Prices and yields are not responding as it’s likely explained because the supply is now done for the week and prices adjusted all week. The 30 yr yield today stands at 3.05% vs 2.98% last Friday. The 10 yr yield is up by 5 bps and the 2 yr is higher by 3 bps on the week. Thomas Byrne of Wealth Strategies & Managementthinks that indirect bidders held back buying thinking there could be a second quarter rebound in economic growth that would send yields higher than they are now. Aaron Kohli of BMO Capital Marketsexpected weakness noting that the 30-year didn't offer relative value for investors, but it was worse than he thought. "The market is holding losses as we close out the week in a trifecta of soft auctions," he writes to clients. http://www.barrons.com/articles/a-hat-trick-of-weak-treasury-auctions-1494525518