If the 'street' is required to own a large portion of this amount, it likes to have it on their terms, which usually results in higher yields and lower prices.

I've turned down shows offering large amounts of money.

Tomorrow's 30-year bond auction should attract large accounts and nostalgia buffs that have quietly politicked to get the bellwether back.

If it isn't in sync with the markets current leanings, it could get ugly in a hurry.

It is important that he come across in an authoritative way so the markets see him as 'apolitical' and strong. If they sense that he can be maneuvered by Congress, then it could make the markets a bit nervous.

If this auction doesn't go well, you might want to take a long lunch then go home.