This auction was moved up by a day because of Jimmy Carter’s funeral.

• Prior was 4.117%
• Bid to cover vs 2.58 prior

All three auctions of threes tailed in Q4 and we start off Q1 with another one. The market might forgive this one given the scheduling but that raises the stakes for sales later this week.

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