What other readings do you guys usually read for trading treasuries? I found it's very different than trading stocks and indices...?
Ouch! Auction Out: The 5-yr saw a not so hot outing, with the 1.849% rate on the high end, the 2.02 bid-to-cover rate on the low end and the 30% take by indirect bidders not impressive. The market got knocked off in light of the fact that yesterday's solid 2-yr had slanted the playing field while the additional supply is seen as having a tough going with the $24B 7-yrs sitting in the wings. That 13 is rearing its ugly head again!!
Dealers like to "muscle" the market up and down when auctions take place in order to make money on the new securities and short-hedges.
It looks like the failed auction in UK and US had a large impact on the stock market also, which dragged down the indices... At least the press is telling such a story,... Do the auctions have that large impact on the stock markets?
Dude, you have to try to think about these things for yourself. What does a failed auction mean? What does a govt's inability to fund its various fiscal measures mean?