Article
"I-Beams Bending Like Cigarettes": Former Pfizer HQ Tower In Midtown At Risk Of Collapse
"I-Beams Bending Like Cigarettes": Former Pfizer HQ Tower In Midtown At Risk Of Collapse
Dramatic video from inside the former Pfizer headquarters tower in Midtown Manhattan shows large I-beams buckling, and officials are warning of a possible collapse.
The 33-story high-rise at 235 East 42nd Street is undergoing a major office-to-residential conversion, one of the largest projects of its kind in the New York City metro area.
WATCH: New York City's biggest office-to-residential conversion just hit an unexpected obstacle.
Buckling columns and falling bricks forced an evacuation at the former Pfizer headquarters. pic.twitter.com/anXDOmBSfw
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10Y Auction Tails As Foreign Demand Dips
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After yesterday's impressive 3Y auction, moments ago the Treasury sold $39 billion in benchmark, 10Y paper, in what was a mediocre auction.
The auction, a 9-Year 10-Month reopening of cusip CPX8, stopped at a high yield of 4.282%, up from 4.217% last month and the highest since last August. It also tailed the When Issued 4.280% by 0.2bps, the third consecutive tail in a row.
The bid to cover dipped to 2.429 from 2.449, and was also below the six-auction average of 2.48.
The internals also...
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