{"id":9039,"date":"2023-11-09T03:26:06","date_gmt":"2023-11-09T03:26:06","guid":{"rendered":"https:\/\/lendingsensibly.com\/markets\/10-year-treasury-yield-ends-at-lowest-level-since-september-after-40-billion-auction\/"},"modified":"2023-11-09T03:26:07","modified_gmt":"2023-11-09T03:26:07","slug":"10-year-treasury-yield-ends-at-lowest-level-since-september-after-40-billion-auction","status":"publish","type":"post","link":"https:\/\/lendingsensibly.com\/?p=9039","title":{"rendered":"10-year Treasury yield ends at lowest level since September after $40 billion auction"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002704556\" role=\"document\">\n<p>Long-term Treasury yields finished at their lowest levels in more than a month on Wednesday after a 10-year auction went as expected and reaffirmed buying interest in government debt.<\/p>\n<h2>What happened<\/h2>\n<ul class=\"articleList\">\n<li>\n      The yield on the 2-year Treasury<br \/>\n        BX:TMUBMUSD02Y<br \/>\n       rose 2.1 basis points to 4.936% from 4.915% on Tuesday. <\/p>\n<\/li>\n<li>\n      The yield on the 10-year Treasury<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       slipped 4.8 basis points to 4.522% from 4.570% Tuesday afternoon.<\/p>\n<\/li>\n<li>\n      The yield on the 30-year Treasury<br \/>\n        BX:TMUBMUSD30Y<br \/>\n       dropped 7.9 basis points to 4.655% from 4.734% late Tuesday.<\/p>\n<\/li>\n<li>\n      Wednesday\u2019s levels are the lowest for the 10- and 30-year rates since Sept. 22, based on 3 p.m. Eastern time figures from Dow Jones Market Data.<\/p>\n<\/li>\n<\/ul>\n<h2>What drove markets<\/h2>\n<p>The Treasury\u2019s $40 billion auction of 10-year notes, held at 1 p.m. Eastern time on Wednesday, produced average demand after factoring in its increased size, according to macro strategist Will Compernolle of FHN Financial in New York. <\/p>\n<p>Along with Tuesday\u2019s sale of $48 billion of 3-year notes, which also went as expected, Wednesday\u2019s sale gave hope that buying interest in long-dated government debt can continue despite an onslaught of supply.<\/p>\n<div class=\"paywall\">\n<p>Meanwhile, U.S. data showed that the level of inventories, or unsold goods, that U.S. wholesalers are keeping on hand fell in September to a 13-month low. <\/p>\n<h2>What analysts are saying<\/h2>\n<p>\u201cThe big catalyst today was the $40 billion 10-year auction,\u201d said Michael Reinking, a senior market strategist for the New York Stock Exchange.<\/p>\n<p>Following a string of weak auctions and an increase in size, \u201cthis was closely watched,\u201d Reinking wrote in a note. \u201cGiven the recent move lower in yields, it seems like markets were content with the results despite the auction being a little bit sloppy.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/ten-year-treasury-yields-inch-higher-ahead-of-40-billion-auction-60e5598c?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Long-term Treasury yields finished at their lowest levels in more than a month on Wednesday after a 10-year auction went as expected and reaffirmed buying interest in government debt. What happened The yield on the 2-year Treasury BX:TMUBMUSD02Y rose 2.1 basis points to 4.936% from 4.915% on Tuesday. The yield on the 10-year Treasury BX:TMUBMUSD10Y slipped 4.8 basis points to 4.522% from 4.570% Tuesday afternoon. The yield on the 30-year Treasury BX:TMUBMUSD30Y dropped 7.9 basis points to 4.655% from 4.734% late Tuesday. Wednesday\u2019s levels are the lowest for the 10- and 30-year rates since Sept. 22, based on 3 p.m.<\/p>\n","protected":false},"author":1,"featured_media":322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"class_list":["post-9039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>10-year Treasury yield ends at lowest level since September after $40 billion auction | LendingSensibly<\/title>\n<meta name=\"description\" content=\"Long-term Treasury yields finished at their lowest levels in more than a month on Wednesday after a 10-year auction went as expected and reaffirmed buying\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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