Treasury's 7-Year Bond Auction Disappoints Amid Weak Foreign Demand  A short while ago, the Treasury concluded its final coupon auction for the week. Following an impressive performance in the two-year sale and a lackluster five-year auction, the seven-year bond offering turned out to be the most disappointing of them all. The auction closed w...

Treasury's 3-Year Bond Auction Sees Strong Demand and Record Metrics  The latest auction of three-year Treasury notes was a remarkable success, standing in stark contrast to the previous four underwhelming sales. The issuance of $58 billion in three-year securities yielded exceptional results, drawing strong demand from investors. The final yi...

Treasury 30-Year Auction Ends Weekly Issuance on a Disappointing Note  the Treasury concluded its weekly round of coupon issuance with a lackluster thirty-year auction that sent yields climbing to their session highs. The latest sale involved a $22 billion reopening of thirty-year notes, specifically the 29-year and 11-month cusip UE6, which c...

5-Year Treasury Auction Shows Solid Demand Despite Foreign Pullback  Following the strong performance of the 2-year Treasury auction yesterday, market participants anticipated similar results from today's 5-year auction. Stable yields throughout the session, following a sharp flattening that inverted the 2s10s curve, bolstered these expectatio...

Disastrous 20-Year Treasury Auction Signals Weak Investor Demand  Today's 20-year Treasury auction was a clear disappointment, signaling weak demand for long-term U.S. government debt. The $16 billion sale priced at a high yield of 4.680%, which was 3 basis points above the 4.650% "when issued" yield. This marked the third consecutive auction ...

Surging US Breakeven Rates Signal Potential Yield Pressure Amid Rising Inflation Expectations  The US two-year breakeven rate is surging, which will likely push yields higher. Inflation expectations are on the rise, indicating that the Fed's efforts to curb inflation might not be as effective as anticipated. Apollo Management Chief Economist T...