![]() But investors are skeptical, with some seeing it as a warning sign that the market will start extracting higher penalties for the nation’s fiscal profligacy. Treasury Secretary Janet Yellen has dismissed speculation that yields are being pushed up by the need to finance the swelling deficit, which doubled to around $2 trillion in the fiscal year through September. In August, long-term yields rose after the so-called quarterly refunding announced a ramp-up in debt sales for the first time in over two years. 1, when the Treasury Department announces its plans for bond sales in the coming months. Getting off of yield-curve control could lead to the sort of the final impulse in this cycle.”Īrguably, the most important event of the week comes at 8:30 a.m. The BOJ is “on our checklist of things to mark a high in US yields. “The more they do away with yield-curve control, that’s a bearish impulse on the back end of the Treasury curve,” said Stephen Bartolini, fixed income portfolio manager at T. The BOJ’s surprise decision in late July to relax its grip on long-term yields, allowing them to rise a bit, helped trigger a global fixed-income selloff by removing an anchor that kept Japanese investors buying government bonds overseas, where rates are higher. “The data is uncertain, there’s uncertainty about the composition of Treasury supply, and then there’s a shift among the buyer base.”īelow are some of the highlights of the next week’s events: “We’re going through a period of volatility,” said Amar Reganti, fixed-income strategist at Hartford Funds, who previously served as deputy director of the US Treasury’s debt-management department. Such moves have whipsawed investors, who are divided over whether yields will climb back up as the economy keeps going strong - or start sliding as high rates slow the economy. It’s a crucial juncture for the bond market, where 10-year Treasury yields during the past week briefly surged above 5% for the first time since 2007 before pulling back down. And on Friday, the Labor Department will release its monthly employment report, a closely watched indicator of whether tighter monetary policy is cooling the economy as much as policymakers want. The Federal Reserve and the Bank of Japan will telegraph where monetary policy is heading, which may help shape demand from buyers overseas. The federal government will spell out how many new bonds it will sell to plug the budget deficit, which is testing the market’s capacity to absorb a seemingly endless supply of Treasuries. Saturday’s escalation of the Israel-Hamas conflict will also draw the attention of investors, though in recent weeks haven flows into Treasuries have been largely outweighed by concerns over the direction of monetary and fiscal policies. In the span of just a few days, investors will get updates on the major forces responsible for the unusually high volatility in the US bond market as it heads toward an unprecedented three-year loss. The coming week will set the stage for how it ends. Thanksgiving Turkeys given away after the saleĪ great selection of low mileage sedans, SUVs, trucks & vans will be offered!(Bloomberg) - It’s been a tempestuous year for US Treasuries. ![]() Happy Thanksgiving, we are Thankful for YOU! GSA reserves the ability to adjust the run order as they see fit. GSA inventory can also be viewed on GSA's website: GSA inventory will be available to view online Tuesday the week of the sale. Nov 17th GSA LIVE SALE starts at 8:30 A.M.We will return to the normal 21 day policy once the DMVs are running at full capacity. You will not be able to return a vehicle for no title until the 45th day after purchase. To accommodate, we will be increasing the Title Absent Policy to 45 days effective Tuesday, December 15 of 2020. Join us in lane or online ĭue to government mandated DMV closures/adjusted hours, title processing has been delayed. (R) Repo & (L) Lease/Rental/Business Fleet/Other vehicles will run in Lane 3 11:00 AM Thank you to our Veterans, we appreciate you all!īuy or sell a vehicle and be entered in a drawing for $300 after the sale (two winners will be drawn)
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