Strong Auction Trifecta Helps Bonds Hold The Range

The day began with a relatively bond-friendly European Central Bank announcement falling failing to help Treasuries nearly as much as it helped European bonds.  That was forgivable in light of today’s Treasury auction and ongoing corporate bond supply glut.  After working through the supply and posting stellar stats at auction, bonds finally got the memo.  10yr yields rallied all the way down to the 1.287% …