US sells 7-year notes at 4.212% vs 4.232% WI

US sells 7-year notes at 4.212% vs 4.232% WI
  • Tuesday, 29/08/2023 | 22:41 GMT+5.5

  • 2 basis point stop through

The sale of $36 billion in 7-year US Treasury notes encountered robust demand, with investors showing keen interest in bonds due to concerns about a potential recession and the prevailing belief that the Federal Reserve has reached the conclusion of its cycle of interest rate hikes.

This strong bidding activity exerted additional downward pressure on yields and consequently impacted the USD/JPY currency pair.

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