30-year Treasury yield hits nearly six-week high after ‘borderline shocking’ debt auction | Metals Mine

  • 30-year Treasury yield hits nearly six-week high after ‘borderline shocking’ debt auction

    From marketwatch.com

    U.S. Treasury yields climbed sharply on Thursday after a stronger-than-expected June inflation reading weighed on demand for an auction of long-dated government paper. What are Treasurys doing? The 10-year Treasury note yield TMUBMUSD10Y, +3.04% rose 6.1 basis points to a four-week high of 2.122%, while the 30-year bond yield TMUBMUSD30Y, +2.38% climbed 7.2 basis points to 2.642%, its highest since May 30. The 2-year note rate TMUBMUSD02Y, +1.35% was up 2.7 basis points to 1.852%. The gap between short-term yields and long-term yields, or the so-called yield curve, continued to widen from Wednesday as expectations ... (full story)

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Ghass1234
Jul 11, 2019 7:04pm
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Quoting EventsTrader
Rarely does the 10 year or 30 year bond auction have any noticeable impact. Big surprise to see gold drop the way it did. Here's the 1M candle at release time. {image}
Gold is Over Priced on Rumors , Why should Someone keep Gold , Sell the yello guys .
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EventsTrader
Jul 11, 2019 7:12pm
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Quoting Ghass1234
{quote} Gold is Over Priced on Rumors , Why should Someone keep Gold , Sell the yello guys .
Yessir! My reasoning also includes that the US dollar is way oversold on unrealistic rate cut expectations. The market is still somehow pricing in 21% chance of a 50 basis point rate cut this month. When that gets priced out, the US dollar will make back some ground and gold will decline on the dollar recovery.
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EventsTrader
Jul 11, 2019 2:47pm
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Rarely does the 10 year or 30 year bond auction have any noticeable impact. Big surprise to see gold drop the way it did. Here's the 1M candle at release time.
Attached Image (click to enlarge)
Click to Enlarge Name: SNAG-3.png Size: 10 KB
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