The Treasury’s calendar is massive this week, with $61 billion in new supply. So far, the results have not been stellar at Monday and Tuesday’s auctions. Rates and yields rose and bid/covers fell versus the prior auctions. Indirect bids were mostly weaker on the bills. They were about the same as last month on the 3 year note, as was the bid/cover on that issue, but the yield still rose sharply. Buyers are showing up, but are demanding and getting higher yields since the Fed is no longer in there subsidizing the market. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.