The $39 billion 10‑year Treasury auction drew strong demand and was awarded at a
5.30% yield, below traders' pre-auction expectations. BMO said dealers required
to bid at auctions received unusually low allocations, signaling outsized demand
from non‑dealer investors. U.S. Treasury yields had jumped before the U.S.
session but have given back most of those gains as oil prices retreated, and
eased further from intraday highs after the auction.
