"Half Way To San Francisco": 30 Year Auction Gets A+

The 30 year Treasury auction just got an A+ grade from Rick Santelli, as the auction was deemed to have been knocked out of the park.

The Treasury auctioned $13 billion worth of 30 year debt, and had a 3.02 bid to cover, which is one of the highest bid to covers ever. The average over the past 10 auctions was 26.66, so this is sharply higher.

The debt went out at a yield of 4.569%.