PostAfter Treasury Secretary Scrooge Bessent declared the 10-year and 30-year sales "the most successful debt auctions in 20…

After Treasury Secretary Scrooge Bessent declared the 10-year and 30-year sales "the most successful debt auctions in 20 years." This week the 20-year arrived, and the mask slipped. The auction priced at 5.420% — the highest yield since the tenor was reintroduced in May 2020, up from 5.204% in August — and tailed the When Issued 5.400% by a full 2 basis points, the biggest tail since 2024.