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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.
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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 1:48 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 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 5:45 pm to NC_Tigah
quote:what concern? Interest on >30T? :goodluck.gif:
Investors expressed concern about the government's ability to manage its debt
quote::bones to kirk.gif:
about overall health of the US economy
Posted on 11/10/23 at 10:58 am to NC_Tigah
Michigan 1yr inflation expectation had fallen all the way from 5.4 peak in mid 2022 to 3.2% at end of September
in just 2 months that 1yr number has jumped to 4.2% and now 4.4%
it suggests any hope of rate cuts in 2024 is a joke
far worse ?
is 5-10yr inflation expectation at 3.2%
thats the worst number since 2011 and its only been higher 1 month in the 21st century ( SEE BELOW )
CONSUMERS SEE OUR GOVT SPENDING IS OUT OF CONTROL AND WILL DRIVE INFLATION HIGHER FOR LONGER ABSENT SEVERE RECESSION
in just 2 months that 1yr number has jumped to 4.2% and now 4.4%
it suggests any hope of rate cuts in 2024 is a joke
far worse ?
is 5-10yr inflation expectation at 3.2%
thats the worst number since 2011 and its only been higher 1 month in the 21st century ( SEE BELOW )
CONSUMERS SEE OUR GOVT SPENDING IS OUT OF CONTROL AND WILL DRIVE INFLATION HIGHER FOR LONGER ABSENT SEVERE RECESSION
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