Blistering Demand For 2 Year Paper Surprises Bond Watchers Ahead Of Alleged Rate Hike
May 24, 2016 at 15:59 PM EDT
There was no explanation why today's just concluded sale of $26 billion in 2 year paper was as blisteringly hot as it was: it certainly wasn't the repo market, as the paper was trading comfortably north of the Y-axis all day.