Spare Me Another Pride Month!

10Y Auction Tails As Foreign Demand Dips After yesterday's impressive 3Y auction, moments ago the Treasury sold $39 billion in benchmark, 10Y paper, in what was a mediocre auction. The auction, a 9-Year 10-Month reopening of cusip CPX8, stopped at a high yield of 4.282%, up from 4.217% last month and the highest since last August. It also tailed the When Issued 4.280% by 0.2bps, the third consecutive tail in a row. The bid to cover dipped to 2.429 from 2.449, and was also below the six-auction average of 2.48. The internals also...

The Spanish Defense Minister blasted the US and Israeli war against Iran as “profoundly” illegal and unjust. She explained that Madrid would not allow Washington to use its airspace for operations against Iran.  “We don’t authorise either the use of military bases or the use of airspace for actions related to the war in Iran,” […]

"A Breakthrough": White House Says Strategic Bitcoin Reserve Announcement Is Imminent Authored by Micah Zimmerman via BitcoinMagazine.com, The White House is on the verge of a formal announcement on the U.S. Strategic Bitcoin Reserve — and the official leading the charge says the hard part is done. Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, told an interviewer this week that the administration has cleared a major legal hurdle in standing up the reserve.  “We’ll have an announcement,” Witt said. “I wish I could say more… It’s a breakthrough as far...