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Foreign Demand Craters For Ugly, Tailing 2Y Treasury Auction Ahead Of Fed Decision
Foreign Demand Craters For Ugly, Tailing 2Y Treasury Auction Ahead Of Fed Decision A week that sees a barrage of macro news, earnings, political developments, capital markets events including the massive Anthropic IPO offering doc and a record equity offering by Meta, also has a flood of coupon issuance to contend with starting with today's $69BN in 2Y paper which sold to tepid demand ahead of this week's FOMC decision. Let's see how the auction did, starting with the high yield 4.708% which was modestly below last month's 4.787% which was the highest since June 2024. This taile