Stellar 10Y Auction Stops Through Thanks To Surge In Foreign Demand

The Path To A September Rate Cut (Despite AI Inflation) By Peter Tchir of Academy Securities The Path to a September Rate Cut (despite AI inflation) A lot has changed in the past 24 hours. After Thursday’s CNBC interview, it seemed obvious (to me) that I needed to write about how there is a real path to a Fed Rate Cut in September. Not only has the market priced in a 75% chance of a hike in September, and 1.25 hikes by the December meeting, most have also taken any chance of...

France Is Latest EU Country To Ban & Sanction Israel's Finance Minister A growing list of Western countries have imposed individual sanctions and travel bans on two Israeli hardline ministers who advocate for Jewish supremacy over the Middle East, evidenced in their expansionist policies from the West Bank to Gaza to Syria. The two in question are Minister of National Security Itamar Ben Gvir and Israeli Finance Minister Bezalel Smotrich. France is the latest country to ban Smotrich, after the United Kingdom, Australia, Canada, New Zealand and Norway already did the same. via...

Medicore 30Y Auction Has First Tail Since November After a solid 3Y auction and a tepid 10Y auction earlier this week, moments ago the Treasury concluded the final coupon auction of the week, when it sold $22 billion in a 30 year reopening in what was another average auction. The sale stopped at a high yield of 4.876%, virtually unchanged from 4.871% a month ago and the highest since last July. It also tailed the When Issued 4.871% by 0.5bps, the first tail since November. The bid to cover was 2.385,...