Why it Isn’t Time to Panic About the 20-Year Treasury Auction Yet
In This Article:
The market’s latest “most important event of all time” came and went on Wednesday, triggering a sharp pullback in U.S. stocks, a spike in Treasury bond yields, and a fresh round of angst among global investors. Bond markets don’t always behave predictably, or accurately, given their size, scope, and liquidity. The Treasury sold $16 billion in new 20-year bonds, a small slice of the $514 billion it will need to raise over the three months ending in June.
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