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Mediocre 5Y Auction Tails As Foreign Demand Slides
Mediocre 5Y Auction Tails As Foreign Demand Slides
After yesterday's solid 2Y auction, today's 5Y auction was an uglier mirror image.
The sale of $70BN in 5 year paper priced at a high yield of 4.200%, up from 4.182% in May and the highest since Jan 25. It tailed the When Issued 4.193% by 0.7bps, and was the 8th consecutive tail for the 5Y tenor.
The bid to cover was 2.351, better than the 2.340 in May and the highest since October.
The internals, however, a disappointment: Indirects took down just 61.60%, a...
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Jul 11, 2026 / Tyler Durden
Iran Begins 'Retaliation' Attack On Gulf After Overnight US Launched 3rd Round Of Strikes, Following IRGC Hit On Cargo Ship
Iran Begins 'Retaliation' Attack On Gulf After Overnight US Launched 3rd Round Of Strikes, Following IRGC Hit On Cargo Ship
Update 10:40pm ET.
Somewhat predictably, as has been the pattern of this war - Iran is in the very early morning hours (local) launching retaliatory strikes on Arab Gulf nations, or as the Iranians say against US assets and bases in the Gulf. Per state media:
IRAN LAUNCHES SERIES OF STRIKES AGAINST US TARGETS: PRESS TV
Last week Kuwait and Bahrain were favored targets, but there are signs that Iran - now with...
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Aug 26, 2026 / Tyler Durden
Meta Settles With US States For $16.7 Billion Over Social Media Harms To Children
Meta Settles With US States For $16.7 Billion Over Social Media Harms To Children
Meta Platforms has reached a $16.7 billion settlement to resolve a landmark claim brought by several states that the company designed Instagram and Facebook to addict children, improperly collected children's personal data, and misled consumers about their safety.
The deal was in a Wednesday court filing in California after a lawsuit was brought by 29 states - with attorneys for Colorado, California, New Jersey and Kentucky - leading the group. The states argued that features like infinite scroll were purposely engineered...
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Jul 31, 2026 / Tyler Durden
Wheat Prices March Higher As Intensifying Black Sea Fighting Fuels Food Security Fears
Wheat Prices March Higher As Intensifying Black Sea Fighting Fuels Food Security Fears
Wheat futures are climbing after Ukraine's Black Sea ports came under renewed Russian fire, with three dry-cargo ships struck in recent days.
The attacks threaten grain exports from one of the world's most important agricultural regions, heightening concerns among UN officials that supply disruptions could reignite global food inflation.
Bloomberg reports:
A ship was damaged at Pivdennyi port and two more were hit near Odesa, according to a Defense Ministry post on Telegram. Earlier Thursday, Ukraine attacked the Russian Black...
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