Summary
- The coupon rate was set at 0.875%, so buyers got it at a discounted price of about $98.76 for $100 of value.
- The inflation breakeven rate came in at 2.13%, higher than recent auctions.
- Market reaction to the auction looks mild, but did the yield come in higher than expected?
On Schwab, I try to either take a screenshot of the buy order page before I submit the order, or…