US Government Sold $742 Billion of Treasury Securities this Week. 30-Year Treasury Auction Yield Highest since 2001, 10-Year Auction Yield Highest since 2007
Bond Vigilantes dissolved long ago into ambient air. But these auction yields make Bessent nervous.
Source: Wolf Street
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DW NOTE
The Treasury is auctioning $742 billion in a single week while the Strait of Hormuz stays shut, inflation runs at 3.4%, and the fiscal deficit has hit $1.8 trillion through ten months. Bond markets are pricing the risk that no one wants to fund this at yesterday's rates.