US sells 10-year notes 4.610% vs 4.592% WI

<ul><li>Highest yield since 2007</li><li>Prior was 4.289%</li><li>Bid to cover 2.50 vs 2.52 prior</li></ul><p>There hasn't been a stop-through since February so this is right on brand. There was some USD/JPY buying ahead of the sale but watch out for more because a concession was built into the sale and it still wasn't enough. Next month, the Treasury is expected to announce even larger auction sizes, which could also push yields up.</p>

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