rich1.0LynAlden (npub1a2…cw83a)https://yabu.me/npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83anjumphttps://yabu.meThe 30-year Treasury auction today went terribly. Huge price tail; basically a half-failed bond auction. There hasn’t been an auction that bad in many years. Some people chalked it up to a cyberattack on China’s largest bank, which interfered with their ability to do Treasury transactions, while others contested that this was the main issue and instead argued it was a lack of demand for duration. Treasury market liquidity is really weak. And then like an hour later Jerome Powell was interrupted in an IMF talk by eco-protestors, and he dropped the f-bomb on a hot mic. Fun stuff.