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Ugly 7Y Auction Has Lowest Bid To Cover Since September, Biggest Tail Since 2024
Ugly 7Y Auction Has Lowest Bid To Cover Since September, Biggest Tail Since 2024
After two "terrible" coupon auctions earlier this week, moments ago the Treasury concluded the week's final auction when it sold $44 billion in 7 Year paper. It may not have been quite as terrible as the previous two, but it wasn't much stronger either.
Starting at the top, the auction stopped with a high yield of 4.255%, up sharply from 3.790% in February and the highest since Jan 2025. It also tailed the When Issued 4.247% by...
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Apr 16, 2026 / Tyler Durden
House Effort To End Trump's Iran War Fails By One Vote: Guess The Lone GOP Dissenter
House Effort To End Trump's Iran War Fails By One Vote: Guess The Lone GOP Dissenter
Two parallel war-related votes in the House and Senate reveal growing dismay and political fractures over President Trump's Iran war, as the Strait of Hormuz remains locked down and ceasefire still seems distant.
The Republican-controlled House voted Thursday to reject a resolution ordering the White House to end the war with Iran, as Memorial Day approaches and Americans are anxious over gas prices and general rising costs at the grocery store.
The vote was 213-214, almost entirely...
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May 12, 2026 / Tyler Durden
Crestfallen Commie Mamdani Abandons Planned Property Tax Hike On New Yorkers
Crestfallen Commie Mamdani Abandons Planned Property Tax Hike On New Yorkers
Looks like NYC's communist mayor has had second thoughts about extracting more taxes by raising New Yorkers' property taxes - something he vowed to do to help close a two-year deficit.
According to Bloomberg, the decision to drop the tax hike will be included in Mamdani's executive budget released today, which will mark the latest version of his spending plan for the fiscal year beginning July 1.
This is separate from a tax on second homes (the so-called pied-à-terre) that was initiated by...
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Apr 14, 2026 / Tyler Durden
Hezbollah Chief Torches 'Futile' Israel Talks, Urges Lebanon Walkout As Rubio Hypes 'Historic Opportunity'
Hezbollah Chief Torches 'Futile' Israel Talks, Urges Lebanon Walkout As Rubio Hypes 'Historic Opportunity'
The Israel-Lebanon peace talks which have kicked off at the State Dept. in Washington D.C. on Tuesday are unprecedented and historic, and yet they remain largely symbolic and will unlikely lead to much in terms of ending the conflict with Hezbollah. That's of course because Hezbollah is not actually represented, only Lebanese government officials - who hold no power or sway over what is the single most well-armed paramilitary group in the country.
Hezbollah leader Naim Qassem...
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