Tune in once more tomorrow for the 30-year public sale
This has was a reasonably large transfer within the US greenback and it keyed off the sturdy demand within the 10-year sale.
US 10-year yields had reached as excessive as 1.1855% earlier than the sale however have fallen again to 1.130%, down 1.5 bps on the day.
Tomorrow there’s a 30-year public sale so we’ll discover out if there may be extra actual cash ready within the weeds.
In any case, the pause within the bond dump has led to a sizeable flip within the US greenback. USD/JPY is down 40 pips from just a few hours in the past at 103.80. There have been similar-sized strikes throughout the board.
I do not assume you’ll be able to draw any conclusions from right now’s value motion except for: Hold a really shut eye on bonds.
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