The U.S. Treasury will auction off $40 billion of 10 year notes at the top of the hour. Below are the key components of the auction, along with the 6 month averages of the components. Traders – and the market – will judge the success or failure of the auction versus the 6-month averages: High
Happy Monday. The Fed blackout went into effect on Saturday but we did hear from Nick Timiraos, who wrote what everyone already knows: That a pause is coming in Sept and that some officials see risks as balanced while others are still hawkish. I wouldn’t expect any of those opinions to shift today with a
Bill Ackman no doubt cheered on the result of today’s 30-year auction. He advertised a bond bearish bet last week and price action hasn’t been great for him so far. That might have changed with weak demand at a $23 billion sale of 30s at an auction today. It tailed by 1.4 bps and that
