(strong volumes)while WE slept; UST mkt illiquidity; less than 1/2 'manhattanites' back IN office; Americans drowin' in credit (i'm sure rate hikes gonna help...)
(strong volumes)while WE slept; UST mkt illiquidity; less than 1/2 'manhattanites' back IN office; Americans drowin' in credit (i'm sure rate hikes gonna help...)
thebondbeat.substack.com
Good morning … (Got20s? they said … Jeff answers after the auction, noting 20-Year Bond Reopening Results: 1.5bp Short Stop, Second Smallest Dealer Takedown on Record … … the 20-year has cheapened 44 bps since last month's auction, the last 5 or 6 of which came this morning, so it is hard to characterize these auction results as particularly strong (that being said, 20s have richened on the curve vs 10s and US contracts since the last auction, so take the outright move with a grain of salt). It isn't often that Treasury reopens a bond within a month of the original issue date, and it stops with a 93 dollar price.
(strong volumes)while WE slept; UST mkt illiquidity; less than 1/2 'manhattanites' back IN office; Americans drowin' in credit (i'm sure rate hikes gonna help...)
(strong volumes)while WE slept; UST mkt…
(strong volumes)while WE slept; UST mkt illiquidity; less than 1/2 'manhattanites' back IN office; Americans drowin' in credit (i'm sure rate hikes gonna help...)
Good morning … (Got20s? they said … Jeff answers after the auction, noting 20-Year Bond Reopening Results: 1.5bp Short Stop, Second Smallest Dealer Takedown on Record … … the 20-year has cheapened 44 bps since last month's auction, the last 5 or 6 of which came this morning, so it is hard to characterize these auction results as particularly strong (that being said, 20s have richened on the curve vs 10s and US contracts since the last auction, so take the outright move with a grain of salt). It isn't often that Treasury reopens a bond within a month of the original issue date, and it stops with a 93 dollar price.