translation, please...it was grim, it was disappointing, it was better than expected...it's ok but it isn't vibrant... i'm getting dizzy reading this garbage.
US 30-yr sale OK, but overall refunding said grim
By Steven Scheer
NEW YORK, Feb 11 (Reuters) - The U.S. Treasury's quarterly refunding mercifully came to an end on Thursday, as dealers said the trio of auctions was disappointing overall despite a 30-year bond sale that was a touch better-than-expected.
''This was the Treasury 3, dealers 0,'' said Ray Remy, head trader at HSBC Securities Inc.
In the third and final leg of its refunding, the Treasury on Thursday sold $10 billion of new 30-year bonds at a high yield of 5.298 percent -- above pre-auction expectations of 5.305 to 5.32 percent.
The bond sale followed disappointing five- and 10-year note auctions on Tuesday and Wednesday.
''It went OK,'' said a head trader at a primary dealership of the 30-year auction. ''But the market is not vibrant here by any means.''
In post-auction trading, the just-issued bond was trading at a small profit for those who bought the new bond, as its yield edged down to 5.2875 percent.
It was the only issue of the three this week to currently be trading with a yield below the auction level. The five-year, sold at 4.767 percent, now trades at 4.825 percent, and the reopened 10-year note stands at 4.916 percent, slightly above the 4.913 percent where it was awarded.
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