Article
US Treasury Sells $139BN In Two Polar Opposite Auctions: A Stellar 2Y And A Dismal 5Y
US Treasury Sells $139BN In Two Polar Opposite Auctions: A Stellar 2Y And A Dismal 5Y
Ahead of Wednesday's FOMC decision (where according to SOFR futures, the odds of a rate hike are a significant 38%, even as most traders expect no action by the Fed), we had the week's first two coupon auctions take place according to an abbreviated schedule, with the sale of $69BN in 2Y notes taking place at 11:30am, followed by $70BN in 5Y notes. And while the former was unexpectedly strong, the latter was one...
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Britain Once Led The World. What Happened?
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Authored by Damian Pudner via the Foundation for Economic Education,
An unsettling look at the economic settlement that the UK now seems willing to accept can be found in the latest fiscal forecast, published on March 3.
By the end of the forecast period, borrowing will have decreased from 5.2 percent of gross domestic product (GDP) in 2024–2025 to about 1.6 percent. Public debt stabilizes at roughly 95 percent of national income. At those levels, even small shifts in interest rates matter: The Office for Budget...
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