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Tailing 7Y Auction Sees Lukewarm Foreign Demand, Jump In Direct Buyers
Tailing 7Y Auction Sees Lukewarm Foreign Demand, Jump In Direct Buyers
The week's final coupon auction per the truncated pre-FOMC schedule has come and gone, and like yesterday's 2Y and 5Y, was also mediocre at best.
The sale of $44BN in 7Y paper stopped at a high yield of 4.175%, down from 4.255% in March; and like the week's previous auctions, the 7Y also tailed the 4.170% When Issued by 0.5bps, which makes it 4 auctions that have not stopped through in a row.
The bid to cover was better, rising to...
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US Treasury Secretary Presses Senate To Pass Crypto Market Structure Legislation
US Treasury Secretary Presses Senate To Pass Crypto Market Structure Legislation
Authored by Micah Zimmerman via BitcoinMagazine.com,
Treasury Secretary Scott Bessent told a Senate panel Wednesday that passing comprehensive crypto legislation is essential to securing U.S. financial leadership and protecting the dollar’s status as the world’s reserve currency, using an appearance before the Senate Appropriations Subcommittee on Financial Services and General Government to amplify a push for legislation that has stalled on Capitol Hill for months.
Bessent testified at a hearing reviewing President Donald Trump’s Fiscal Year 2027 budget request for the Department of the Treasury. During the...
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Apr 7, 2026 / Tyler Durden
US Core Durable Goods Orders Surge For 11th Straight Month
US Core Durable Goods Orders Surge For 11th Straight Month
After recent string 'soft' survey data, this morning we get some 'hard' data and it's mixed...ish...
Preliminary headline durable goods orders for February fell 1.4% MoM (worse than the -1.2% MoM exp). That is the third monthly decline in a row (the first 3-month decline since Nov 2019)
Source: Bloomberg
The monthly decline of the headline print largely reflected a decline in orders for aircraft.
Boeing said it received fewer orders for its planes in February than a month earlier.
On the other hand, core durable...
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