U.S. Sells $22B 29-Year 10-Month Bond At High Yield 4.671%, Awards 58.23% Of Bids At High
Portfolio Pulse from Benzinga Newsdesk
The U.S. Treasury has successfully sold $22 billion worth of 29-year 10-month bonds at a high yield of 4.671%, with 58.23% of the bids awarded at this high yield. This auction could influence market sentiment and interest rate expectations.
April 11, 2024 | 5:04 pm
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NEUTRAL IMPACT
The sale of $22 billion in 29-year bonds at a high yield of 4.671% may impact investor sentiment towards risk, potentially affecting the SPDR S&P 500 ETF Trust (SPY) as it reflects broader market trends.
Bond yields and equity markets often move inversely. A higher yield may indicate rising interest rates, which can slow economic growth and affect stock prices. However, the direct impact on SPY is uncertain as it depends on broader market interpretation and subsequent interest rate expectations.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50