Treasury WI 10Y Yield At 3.929% Before $42B Auction; US Ten-Year Notes Draw 3.960% With 91.61% Allotted At High
Portfolio Pulse from Benzinga Newsdesk
The US Treasury's 10-year yield is at 3.929% ahead of a $42 billion auction, with the notes drawing 3.960% and 91.61% allotted at the high. This indicates strong demand for US government debt.
August 07, 2024 | 5:03 pm
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The US Treasury's 10-year yield at 3.929% before a $42 billion auction, with notes drawing 3.960% and 91.61% allotted at the high, suggests strong demand for US government debt. This could impact SPY as bond yields and stock prices often have an inverse relationship.
Higher bond yields can make bonds more attractive compared to stocks, potentially leading to a decrease in stock prices. SPY, being an ETF that tracks the S&P 500, could see a short-term negative impact as investors might shift from equities to bonds.
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