Foreign banks skip $42B 10 yr bond auction with no explanation. Treasury pushes supply despite saying it wouldn’t

The U.S. Treasury just tried to borrow $42 billion in a 10-year auction. The auction tailed. Demand was soft. Foreign banks didn’t show. The bonds cleared at 4.255%, nearly 0.01% above trader expectations. https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-08-06-2025/card/treasury-yields-extend-rise-after-lackluster-10-year-note-auction-HTBkouvfXmDCyCkNft6O 🚨The U.S. just tried to borrow …

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Michelle Obama to skip inauguration

WEST PALM BEACH, Fla. (AP) — Former first lady Michelle Obama will skip the inauguration of President-elect Donald Trump, the second time in two weeks that she is not attending a gathering of former U.S. leaders and their spouses, but …

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The “skip” is acknowledgement that things are shaky

https://twitter.com/NorthmanTrader/status/1669070435399487492 Fed cutting interest rates has been bearish for equities It implies that something has broken in the system pic.twitter.com/6X7Kg9cQK4 — Bravos Research (@bravosresearch) June 14, 2023 👀 Reminder … the govt CPI is fake data. They massage the data …

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