Results of the $24 billion 20-year reopening
- Prior was 1.920%
- They were trading at 2.315-2.310% on the bid-ask in the when issued market
There was a huge concession in the hours leading up to this sale but that turned out to be the wrong move as demand was unexpectedly strong.
You can see it in the chart below.
This is positive for risk assets and negative for the US dollar as yield fall.