Thursday, May 21, 2009

Treasury Auction for the Week of May 26

Department of Treasury is selling the following Treasury bills and notes next week.

  • Tuesday May 26: 13-week bill, $31 billion
  • Tuesday May 26: 26-week bill, $30 billion
  • Tuesday May 26: 2-year note, $40 billion
  • Wednesday May 27: 5-year note, $35 billion
  • Thursday May 28: 7-year note, $26 billion

    Total for the week: $162 billion
The total amount is even bigger than the May 4 week, during which $155 billion worth of Treasuries were auctioned.

Week of May 4 was the last week before the Mercury Retrograde fully hit, and the market gained significantly. Not sure at all about the next week.

The stock market has been shaky all week, and today's pooper was S&P downgrade of the United Kingdom's outlook to "negative", threatening the downgrade of the UK's credit rating. Not so much of the UK itself, but clearly the market reaction was "Will the US be next?" Long-dated Treasury yields spiked up, and the market went down. Now it's almost back to the beginning of the week.

Increasing uneasiness, that something is getting unhinged yet again, is in the air. As you can see in the headlines of SKF bloggers (right column), they seems to be feeling it too.


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