Feeling Emboldened After Attacks On Moscow, Zelensky Threatens Belarus With Military Action

DoJ Opens Criminal Probe Into Meatpacking Cartel As Food Stocks Slide Shares of Tyson Foods and Smithfield Foods fell in late-morning trading in New York after The Wall Street Journal reported that the Justice Department's antitrust division has opened a criminal probe into major meatpackers. The report follows President Trump's push for an investigation into meatpackers as supermarket beef prices remain near record highs. Criminal antitrust cases are typically brought for alleged price-fixing, collusion, or bid-rigging. While the DoJ previously disclosed an investigation into beef companies after Trump called for action, it...

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...