The 30yr auction went well enough. It was helped by a cheapening process into the auction event, and in the end got done at a slight price premium to secondary. It was also rewarded by a positive market in the wake of that auction, as yields drifted back down toward the lows of the day. The 10yr has settled back in the 4.35% area. It's been a quiet data week, and Friday serves up a release that typically does not garner huge attention, but it is a key one to monitor as we progress through the coming months - the monthly budget balance. Friday's release is for June. The market survey is braced for a $30bn fiscal ... (full story)