Treasurys sold off on Wednesday following a weak $16 billion sale of 20-year bonds and the release of minutes from the Federal Reserve’s most recent policy meeting. What’s happening
The yield on the 2-year Treasury
BX:TMUBMUSD02Y
rose 3.5 basis points to 4.645%, from 4.610% on Tuesday. Yields move in the opposite direction to prices.
The yield on the 10-year Treasury
BX:TMUBMUSD10Y
advanced 4 basis points to 4.316%, from 4.276% on Tuesday.
The yield on the 30-year Treasury
BX:TMUBMUSD30Y
rose 3.5 basis points to 4.483%, from 4.448% on Tuesday.
What’s driving markets Treasury’s $16 billion auction of 20-year notes produced “very ugly” results Wednesday afternoon, with dealers stepping in to take a higher-than-average 21.2% of the sale, according to Tom di Galoma, co-head of global rates trading for BTIG in New York.
The auction results triggered an afternoon selloff in government debt ahead of the 2 p.m. Eastern time release of the minutes from the Federal Reserve’s Jan. 30-31 policy meeting. The selloff remained in place as the minutes of the Fed’s last meeting came in. The minutes leaned in a hawkish direction and …
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The yield on the 2-year Treasury
BX:TMUBMUSD02Y
rose 3.5 basis points to 4.645%, from 4.610% on Tuesday. Yields move in the opposite direction to prices.
The yield on the 10-year Treasury
BX:TMUBMUSD10Y
advanced 4 basis points to 4.316%, from 4.276% on Tuesday.
The yield on the 30-year Treasury
BX:TMUBMUSD30Y
rose 3.5 basis points to 4.483%, from 4.448% on Tuesday.
What’s driving markets Treasury’s $16 billion auction of 20-year notes produced “very ugly” results Wednesday afternoon, with dealers stepping in to take a higher-than-average 21.2% of the sale, according to Tom di Galoma, co-head of global rates trading for BTIG in New York.
The auction results triggered an afternoon selloff in government debt ahead of the 2 p.m. Eastern time release of the minutes from the Federal Reserve’s Jan. 30-31 policy meeting. The selloff remained in place as the minutes of the Fed’s last meeting came in. The minutes leaned in a hawkish direction and …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]