Final US Treasury Auction of $26bn of 7yr Notes Goes Off Without a Hitch - USD Under Pressure

Yesterday's final US treasury auctions of $26bn of 7yr notes went off without a hitch. In a week which saw $101bn of new supply entering the market, investors' worries were calmed as bid-cover ratio and percentage awarded to indirect bidders matched auctions in the past. So it looks like for now the foreign demand for US debt is unchanged. However, as we had mentioned in the past if there was a...