Investors showed up in force for the US$90 billion in notes auctioned this week by the Treasury Department amid a rebound in yields and pervasive negative rates in Europe.
As traders ponder the timing for the Federal Reserve's first interest-rate increase since 2006, America's government debt yields have risen by as much as about a half a percentage point from lows reached in January. That comes as more than $1 trillion of sovereign bonds have negative yields in overseas debt markets.
The Treasury's sale of two-, five-, and seven-year debt each came at the highest auction yield in 2015. Bidding levels for this week's debt, as well as the month overall, were the strongest since February.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
