Halister News

(Bloomberg) -- The absence of an increase in the four-week Treasury bill auction may have been “the driving force” behind the mixed three-, six-month results Monday, Jefferies economists Ward McCarthy and Thomas Simons say in note. 

• “The lack of any increase announced for the four-week leaves the market in a strange spot, unsure if a 1bp concession versus last week’s auction stop is too much or not enough”
• The $3b increases for both the three-, six-month sales announced Thursday sparked “a little bit of a concession”
  • Three-month auction stopped short at 1.045% vs 1.05% WI; six-month sale tailed, 1.180% vs 1.175% 11:30am WI

To contact the reporter on this story: Alexandra Harris in New York at aharris48@bloomberg.net To contact the editors responsible for this story: Boris Korby at bkorby1@bloomberg.net Vivien Lou Chen