10-YEAR TREASURY YIELD HIGHEST SINCE 2000

The U.S. Treasury sold $39 billion in reopened 10-year notes on October 7 at a high yield of 5.300%, the richest rate since November 2000. Demand held up anyway: the bid-to-cover ratio came in at 2.77x, above the recent average, with indirect bidders taking the lion's share of the order book. The $TNX benchmark just touched its highest level in a generation, and investors are still lining up to buy it.