Us Tsys getting pop off lows led by front end as stocks sink lower. Is also some steepening of curve taking place as inflation seems to take importance over rate cut for now. Pres Trump also demanding that Fed Gov Lisa Cook resigns. It is safe to say that US bond markets are not used to such vocal interference with Fed operations, independence. Away from steady supply of T-bills, coupon supply has been thin. But at 13:00ET today, Tsy will sell $16B new 20-year bonds. Sales of this maturity have been hard to peg lately. $16B May 21 sale turned sloppy when an attractive yield failed to garner end user demand. Issue was awarded at 5.047% but non-dealers took a low 83.1% vs an avg refunding month of 84.9%. Issue slipped to 5.12% on day one and to 5.16% on day two. Alternately, $13B reopenings on June 16 and July 23 came at lower yields, 4.942% and 4.935%, but non-dealers took 86% and 89% respectively. It seems current conditions are…
US Treasuries Rise at Short End as Stocks Fall — TradingView News
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