US Treasury 5-year yield sits at 4.39% as $70B auction looms

Yields Hit Session High After Subpar 5Y Auction Tails For 10th Consecutive Time As Foreign Buyers Shrink

Overall, this was a solid, if notably weaker auction than yesterday's phenomenal 2Y sale, and the continued drift higher in the 10Y yield and the entire curve to session highs, confirmed the market's muted reception.