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Treasuries see short-covering and dip...>

US TSYS/30Y
US TSYS/30Y: Treasuries see short-covering and dip buying coming after strong
$12B 30Y bond reopening auction, which observers with the strength of its bid.
- "It was a pretty strong auction: I am surprised that it came that strong,
ahead of the Tier One data out Friday," such as the key Sept. CPI and the Sept.
retail sales too, said one trader at a primary dealer. "I believe that the
stabilization of the past week-plus is starting to bring out buyers."
- Recall on that score, that Japanese accounts prefer not to "buy a falling
knife" market, i.e., one that is sliding precipitously. The good demand suggests
such Japanese accounts likely stepped up to buy, as had been the MNI expectation
before the auction.

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