Treasury’s $13 billion auction of 20-year government bonds on Wednesday, seen as a key test of investor demand, came in stronger than expected, which in turn led to a less-pronounced selloff of long-dated government securities in general during the New York afternoon.
The 30-year Treasury yield BX:TMUBMUSD30Y slipped back below 5% following the auction, after having pierced that level Wednesday morning. The benchmark 10-year yield BX:TMUBMUSD10Y, which touched an intraday high of 4.93%, traded around 4.89% after the 20-year bond sale. “Greater supply in general of Treasury issuances and the Fed’s QT have been the drivers of the selloff in long-dated Treasurys and one of the triggers for bear steepening,” said Daniel Tenengauzer, a New York-based strategic adviser for the financial technology firm called bondIT. Bear steepening refers to a trading environment in which long-term rates are increasing at a faster rate than short-term ones.
Colombia Últimas Noticias, Colombia Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Bank of America earnings beat Street forecasts, but bond losses jump amid Treasury routBig gains in net interest income powered solid third quarter earnings for Bank of America, but investors are likely to focus on unrealized losses in its bond portfolio and Treasury yields continue to rise.
Fuente: startelegram - 🏆 248. / 63 Leer más »