U.S. Sells $39B 9-Year 10-Month Notes At High Yield 4.560%, Awards 54.10% Of Bids At High; U.S. 9-Year 10-Month Notes Bid-To-Cover Ratio 2.34, Non-Comp Bids $83.13M
Portfolio Pulse from Benzinga Newsdesk
The U.S. Treasury sold $39 billion in 9-year 10-month notes at a high yield of 4.560%, with 54.10% of the bids awarded at this high yield. The bid-to-cover ratio for this auction was 2.34, indicating healthy demand, and there were $83.13 million in non-competitive bids.
April 10, 2024 | 5:04 pm
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NEUTRAL IMPACT
The sale of $39 billion in 9-year 10-month U.S. Treasury notes at a high yield of 4.560% may influence investor sentiment towards risk, potentially impacting SPY as it reflects broader market trends.
The auction results, with a high yield of 4.560% and a bid-to-cover ratio of 2.34, indicate a healthy demand for U.S. Treasury notes, which can affect investor sentiment towards risk. As SPY is a broad market ETF, changes in risk sentiment can influence its performance. However, the direct impact of Treasury note yields on SPY is complex and influenced by various factors, including investor expectations for interest rates, inflation, and economic growth.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50