MURICO.com Forum

The T-Bond auction - - -

consisted of $12 billion with a coupon of 2.75%. There were plenty of bidders with a bid to cover of 2.48X but the bids were a bit low so the awarded yield was 2.804%. As is oftern the case, the futures were a bit weak in front of the auction and rallied a bit after the auction. Bond futures are still down a little as traders wait for the Fed's interest rate decision tomorrow. The PPI this morning seems to suggest that inflation is starting to heat up and the Fed has been signaling for some time that they plan another hike this month. Tomorrow we find out if they follow through.

Best wishes,

dhm