We had a feeling there would be a squeeze into today's 3Y auction after this morning reports of that the OTD was trading tight, and quite "special" at -0.5% in repo, traditionally indicative of a notable lack of deliverable and underlying on the day of the auction.

The repo market is also why just before the auction we wondered if there would be another tradtional repo-driven squeeze into today's auction:

3Y was -0.50% in repo today. Squeeze?

— zerohedge (@zerohedge) May 10, 2016

Update: The Senate just got involved... As ABC News report, Senator John Thune has sent letter to Facebook seeking information on alleged manipulation of news curation:

Sen. Thune Letter to Facebook by zerohedge

http://www.scribd.com/embeds/312141084/content

Turkish border guards continue to shoot and kill Syrian refugees and asylum seekers trying to reach Turkey, according to Human Rights Watch (HRW). Syrian refugees are being killed, injured and abused at the border. HRW condemns the use of excessive force and asks Turkish authorities to stop pushing back asylum seekers at the border and to investigate the abuses.

Submitted by John Rubino via DollarCollapse.com,

Something interesting has happened. China earlier this year responded to falling stock prices by borrowing a trillion dollars and spending it on commodities, boosting the prices of iron ore, oil, copper, etc., and giving the global economy a patina of recovery.

Nothing unusual so far. China did the same thing in response to 2008’s Great Recession, and the world breathed an appreciative sigh of relief, ignoring the massive new leverage that the policy required.

"We will all be flying commercial... At least we did not buy Puerto Rican debt like those fools at Perry... Have you never heard of a high water mark? I should fire every single on of you and use a f##king dartboard..."

http://www.youtube.com/watch?v=RS8HJT4_Ero