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Treasury Refunding: No Changes To Auction Sizes; Bessent Keeps "At Least" In Forward Guidance
Treasury Refunding: No Changes To Auction Sizes; Bessent Keeps "At Least" In Forward Guidance
In our preview to this morning's Quarterly Refunding Statement, we said that we do not expect major changes and that, at most, the treasury might adjust its statement language to soften the forward guidance on possibly futures increase in coupon auction sizes with one likely change would be dropping “at least” while retaining the expectation for unchanged coupon sizes over “the next several quarters” (recall Deutsche Bank said it expects nominal coupon increases beginning in February 2027).
Overnight, JPMorgan agreed,...
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Brent Bounces As Houthis Attack, Sink Vessel Off Yemen With Sea Drone
Brent Bounces As Houthis Attack, Sink Vessel Off Yemen With Sea Drone
The Houthis have quickly made good on their earlier threat, with the United Kingdom Maritime Trade Operations (UKMTO) Centre having reported the following fresh attack off Yemen:
UKMTO has received a time-late report of an incident 9NM southwest of Al Mukha, Yemen.
The CSO of the vessel has reported that the vessel was attacked by an Uncrewed Surface Vessel which caused a fire onboard. The crew have been rescued by local authorities and are safe and well.
The vessel has been...
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