US sells 3-year notes at 4.490% vs 4.473% WI

<ul><li>Prior was 4.701%</li><li>Bid to cover 2.42 vs 2.67 prior</li></ul><p>The 1.7 bps tail is a surprise and should help to underpin the US dollar, though it's tough to make a move ahead of more supply. This will make the market jittery ahead of the 10-year reopening in 90 minutes.</p><p>Yields across the curve have moved up in sympathy.</p><p>If the 10-year sale is also soft, it could be an indication that real money doesn't believe that rates will be cut so quickly.</p>

This article was written by Adam Button at www.forexlive.com.