U.S. Sells $16B 20-Year Bond At High Yield 4.780%, Awards 18.63% Of Bids At High
Portfolio Pulse from Benzinga Newsdesk
The U.S. Treasury has sold $16 billion worth of 20-year bonds at a high yield of 4.780%, with 18.63% of the bids being awarded at this high yield.
November 20, 2023 | 6:04 pm
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NEUTRAL IMPACT
The sale of 20-year bonds at a higher yield may indicate rising government borrowing costs, which could impact market sentiment and influence the performance of SPY, an ETF that tracks the S&P 500.
Higher bond yields can lead to higher borrowing costs for the government and can also attract investment away from stocks, potentially leading to lower equity prices. However, the impact on SPY is indirect and depends on broader market interpretation of the bond auction results.
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