If yesterday's 10 Year auction was very weak, despite the market reaction post the Fed minutes ramping the paper to highs not seen since last May, moments ago the Treasury concluded this week's auctions by selling another $13 billion in the August 30-Year reopening, in another relatively weak issue, which priced at 3.74%, a small 0.2 bps tail to the 3.72% When Issued. In any event, the high yield of just over 3% was the lowest since the May 2013 Taper Tantrum freak out. As a reference, the lowest the 30 Year has sold at auction was 2.58% in July 2012 at the peak of the European debt crisis and just before Draghi uttered the magic words "whatever it takes." The internals were also somewhat weak, with the Bid To Cover dropping from 2.67 to 2.404, just below the 2.44 TTM. And yet, unlike yesterday's 10 Year when the Direct takedown crashed to multi-year lows, today's Direct allotment was a decent 21.5%, well above the recent average, and in line with some of the higher Direct bids in recent years.