US 10-year yield auction clears at highest level since 2007

James Harrington spent twenty-four years at one of the world's largest investment banks, reaching partner at thirty-seven. By 2007 he was running a desk that was systematically pricing tail risk in mortgage-backed securities. He was right for eighteen months before the crisis arrived. On the day Lehman filed, he was at his desk before dawn. His positions were correct. He made significant money.