[The buyers sold off, the Federal Reserve reduced its balance sheet, and the banks reduced their leverage. The 30-year US debt was a bit hard to sell.] In recent days, Wall Street has been talking about the auction results of the just ended 30-year US treasury bond bonds, which was far more bleak than expected. Primary Dealers had to accept 18.2% of the treasury bond that were not bought by other bidders, which was the highest proportion since February last year, and the average value this year was only 10.72%. It is worth mentioning that the highest yield of the 30-year US treasury bond bond auction was 4.837%, almost 5 basis points (BP) higher than the expected yield before the auction.