US 20-year bond auction tails by 2 bps

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US 20s sell at 5.420% vs 5.400% WIBid to cover at 2.57x vs 2.65x six-auction averageDirects at 30.7% vs 21.4% six-auction averageThe bond market isn't in a good place as oil continues to surge. WTI is up $4.59 to $105.97. This article was written by Adam Button at investinglive.com.