The US stock market may be in shambles and the Mahwah Stock Exchange is offline for nearly 2 hours now, but that had no impact on demand for US paper, in fact moments ago the US Treasury just sold $21 billion in 10 Year paper without a single hitch. With a When Issued of 2.233%, the bond priced 0.8% through at 2.225% showing that when one can’t buy anything else, one buys what one can, in this case 10 Year paper.