(modest o/n bid on avg volumes)while WE slept; "Debt Ceiling tension likely to rise significantly"; CREDIT? pivot or platform?
thebondbeat.substack.com
Good morning … On heels of yesterdays bad 3yr auction … Horrific 3Y Auction Sours Post-Powell Bond Rally … The high yield of 4.073% was not only well above last month's 3.977%, but also stopped through the When Issued 4.033% by a 4bps which was a record in our data set which goes back to 2016. More remarkably, it was the polar opposite of last month when the 3Y was also a record, only in the other, stop through direction!
(modest o/n bid on avg volumes)while WE slept; "Debt Ceiling tension likely to rise significantly"; CREDIT? pivot or platform?
(modest o/n bid on avg volumes)while WE…
(modest o/n bid on avg volumes)while WE slept; "Debt Ceiling tension likely to rise significantly"; CREDIT? pivot or platform?
Good morning … On heels of yesterdays bad 3yr auction … Horrific 3Y Auction Sours Post-Powell Bond Rally … The high yield of 4.073% was not only well above last month's 3.977%, but also stopped through the When Issued 4.033% by a 4bps which was a record in our data set which goes back to 2016. More remarkably, it was the polar opposite of last month when the 3Y was also a record, only in the other, stop through direction!