The Bogus Blockade Claim of the US Department of War

Russia and China on Wednesday issued a joint statement condemning President Trump’s plan for a “Golden Dome” missile defense shield for the US as Russian President Vladimir Putin and Chinese President Xi Jinping held talks in Beijing. According to The South China Morning Post, the two countries said the project poses “a clear threat to […]

Solid 7Y Auction Prices "On The Screws" With Solid Foreign Demand Today's lone coupon auction, the sale of $16BN in 20Y notes, took place at 1pm, just an hour ahead of the FOMC Minutes release, and the auction was generally very strong, with maybe a one glitch.  The sale stopped at a high yield of 5.122%, up from 4.883% in April, and the second highest in the history of the 20Y auction with just the 5.257% in October '23 printing higher. The yield stopped on the screws with the When Issued...