Market Breather

Long-end Treasurys catch a strong bid after solid $19B, 10-year note auction results: High Yield 3.36% vs. 3.4% expected. Bid/cover 3.28 vs. average of 2.42. Indirect Bidders 43.9% vs. average of 27.8%. 30-year futures +1.06% to 120-22. 10-year+0.95% to 118-12. 5-year +0.52%. 2-year +0.09%.