According to ChainCatcher, Danske Bank research analyst Stefan Mellin stated that the demand for the 30-year Treasury auction conducted by the U.S. Treasury on Thursday was strong, with yields falling below the critical 5% level.
Given the unusual price movements at the long end of the U.S. Treasury yield curve in recent months, as well as the challenges to its status as a safe-haven asset, this auction is particularly important. The auction results alleviated concerns about declining demand for long-term U.S. Treasuries.