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Terrible bond auction adds to US dollar momentum

The bond market is a mess.

There used to be periods where you went years without +3 basis point auction misses and now we've had two this week. Yesterday's 10-year sale was extremely strong and today's 30-year reopening was terrible, with a tail of 3.2 bps.

Some combination of illiquidity and Japanese mechanics is likely behind the change in the market but it's an unneeded source of volatility. The market is waiting for a new BOJ Governor announcement imminently so maybe we settl... Read More

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Terrible

Bond

Auction

Adds

Dollar

Momentum

Forex

Posted: Feb 9 2023, 18:14

Author Name: forexlive

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