Yesterday’s poor 30-year Treasury auction reverberated through the market but later in the day, many people were arguing that it should be ignored because a ransomware attack kept China’s largest bank — ICBC — out of bidding.
Yellen now says there was no impact on the Treasury market from the attack. Could she mean that there’s been no direct impact?
Whatever happened, US 30-year yields are back to where they were before the sale.
US 30s, 5 min chart