Golden Finance reported that the winning bid yield at the U.S. Treasury Department’s $39 billion 10-year Treasury bond auction was 4.235%, and the pre-issuance trading yield when bidding closed at 1 pm New York time was 4.252%. The proportion of primary dealers allocated was 10.5%, which was lower than the previous auction. The allocation ratio for indirect bidders was increased to 70%, and the allocation ratio for direct bidders was 19.5%. The bid-to-bid multiple of 2.70 was the highest since 2016, with the previous six auctions averaging 2.54 times.