U.S. 3-Year Note Auction 4.490% Vs 4.701% Prior
Portfolio Pulse from Benzinga Newsdesk
The U.S. Treasury held an auction for 3-year notes, resulting in a yield of 4.490%, which is lower than the previous auction's yield of 4.701%.

December 11, 2023 | 4:33 pm
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NEUTRAL IMPACT
The lower yield in the latest U.S. 3-year note auction may indicate a shift in investor sentiment, potentially affecting the SPY ETF as it reflects broader market trends.
While the auction result directly pertains to government debt securities, it indirectly affects the SPY ETF as it can influence overall market interest rates and investor sentiment. A lower yield suggests a higher demand for safer assets, which could lead to a shift in the market's risk appetite. However, the impact on SPY is not direct and depends on broader market interpretation and subsequent movements.
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