US sells 5-year notes at 3.955% vs 3.960% WI

• Prior was 3.980%
• 6-auction average of 3.725%.
• Bid to cover at 2.33 vs 2.29 prior

The two-year sale tailed by 0.1 bps and this one by 0.5 bps. Those aren’t big misses but Treasury yields are now at the highs of the day, up 3-4 bps across the curve. We could finally be seeing some Iran war angst, though not yet in the stock market.

WTI crude was last up $2.26 to $96.65 and brent is closing in on $110. The big round numbers are likely to be the pain points in the market, and maybe in politics as well.

This article was written by Adam Button at investinglive.com.