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Just in -- Treasury’s $24 billion 30-year bond auction goes poorly today
Posted on 11/9/23 at 1:28 pm
Posted on 11/9/23 at 1:28 pm
quote:Investors expressed concern about the government's ability to manage its debt, and about overall health of the US economy. Yield was expected to remain fairly flat. The unexpected 11 BP jump was the highest in nearly 1 1/2 yrs.
Treasury’s $24 billion 30-year bond auction goes poorly, trader says
By Vivien Lou Chen
Nov. 9, 2023 at 1:07 p.m. ET
Thursday afternoon’s $24 billion sale of 30-year Treasury bonds drew weaker-than-expected demand, according to Greg Faranello, head of U.S. rates trading and strategy at AmeriVet Securities in New York, citing the bid-to-cover ratio and yield concession which came in. The 1 p.m. Eastern time auction caps a trio of sales that have taken place since Tuesday, totaling $112 billion, and which were seen as important tests of demand. Treasury yields moved up slightly after the Thursday’s auction results came out, reflecting a further selloff in underlying government debt.
LINK
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Posted on 11/9/23 at 1:34 pm to NC_Tigah
Investors are still not convinced on where rates are headed. Maybe they're thinking I can get higher yield later if I wait it out.
I'm hearing foreign interest of US debt is very low.
I'm hearing foreign interest of US debt is very low.
This post was edited on 11/9/23 at 8:33 pm
Posted on 11/9/23 at 1:34 pm to NC_Tigah
(no message)
This post was edited on 11/9/23 at 1:35 pm
Posted on 11/9/23 at 1:35 pm to NC_Tigah
Didn't you hear, NC, that the U.S. treasury market "collapsed" this morning because of a cyber attack on a Chinese bank?
Drama Queens....Drama Queens EVERYWHERE!
Drama Queens....Drama Queens EVERYWHERE!
Posted on 11/9/23 at 1:36 pm to NC_Tigah
Posted on 11/9/23 at 1:41 pm to LSURussian
quote:
Didn't you hear, NC
Posted on 11/9/23 at 1:48 pm to NC_Tigah
Doesn't make any sense why people aren't snapping up all the government bonds they can afford?
US is going to blast by $34 trillion debt by the end of the Q1 in 2024.
US debt service will blast through $1 trillion annually by the end of Q1 in 2024
People need to show their faith and belief in our federal government and buy as much debt as they can afford.
US is going to blast by $34 trillion debt by the end of the Q1 in 2024.
US debt service will blast through $1 trillion annually by the end of Q1 in 2024
People need to show their faith and belief in our federal government and buy as much debt as they can afford.
Posted on 11/9/23 at 2:06 pm to NC_Tigah
What are the Treasury's possible response to this?
Posted on 11/9/23 at 2:20 pm to NC_Tigah
There are people that will tell you this means nothing.
Those people are idiots.
Those people are idiots.
Posted on 11/9/23 at 2:34 pm to NC_Tigah
Who would want to own our debt at this duration? Regardless of what happens with rates over that period, it’s obvious that the government intends to just inflate the debt away.
Posted on 11/9/23 at 3:02 pm to LuckyTiger
quote:You're a lot more knowledgeable about financial markets than I am so could you please explain to me the significance of the the Treasury's 30-year bond auction drawing less demand than was expected?
There are people that will tell you this means nothing.
Those people are idiots.
I'd especially like for you to teach me what "the bid-to-cover ratio and yield concession" means.
I'd really, really appreciate it.
Posted on 11/9/23 at 3:04 pm to Bass Tiger
quote:
US debt service will blast through $1 trillion annually by the end of Q1 in 2024
Where are you seeing this?
Posted on 11/9/23 at 3:22 pm to LSURussian
I'm guessing the indirect bids were up too
Posted on 11/9/23 at 3:30 pm to LSUBanker
quote:
I'm hearing foreign interest of US debt is very low.
It should be. We’ll never pay it back. Only with worthless dollars.
Posted on 11/9/23 at 3:45 pm to Bard
quote:
Where are you seeing this?
Here is the most recent article that I saw on this. Analysis done by Bloomberg. LINK: US Debt costs hit $ 1 Trillion
Posted on 11/9/23 at 4:02 pm to TigerDoug
quote:
Here is the most recent article that I saw on this. Analysis done by Bloomberg. LINK: US Debt costs hit $ 1 Trillion
If the $1 trillion number is correct, that’s almost $3,000 per year for every man, woman and child. Unsustainable.
Posted on 11/9/23 at 4:07 pm to NC_Tigah
What happens theoretically if people just stopped buying these bonds? Would it force govt to cut spending if they can’t sell the bonds to borrow the money to cover it?
Posted on 11/9/23 at 4:17 pm to auwaterfowler
Directly from the website I will post below.
As of September 2023 it costs $879 billion to maintain the debt, which is 14% of the total federal spending.
LINK: September 2023 - $879 Billion to maintain debt
As of September 2023 it costs $879 billion to maintain the debt, which is 14% of the total federal spending.
LINK: September 2023 - $879 Billion to maintain debt
Posted on 11/9/23 at 4:21 pm to wutangfinancial
quote:Up 3pts. But about avg for the year
I'm guessing the indirect bids were up too
Posted on 11/9/23 at 4:23 pm to Bass Tiger
quote:I think the problem is Americans don’t have extra money to invest after managing their own debt.
and buy as much debt as they can afford.
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