ITALY T-BILL AUCTION PREVIEW: On offer next week

May-23 15:35

You are missing out on very valuable content.

MEF has announced it will be looking to sell E6.5bln of the new 6-month Nov 28, 2025 BOT at its auct...

Historical bullets

FED: US TSY 2Y FRN AUCTION: HIGH MARGIN 0.160%; ALLOTMENT 10.22%

Apr-23 15:32
  • US TSY 2Y FRN AUCTION: HIGH MARGIN 0.160%; ALLOTMENT 10.22%
  • US TSY 2Y FRN AUCTION: DEALERS TAKE 49.56% OF COMPETITIVES
  • US TSY 2Y FRN AUCTION: DIRECTS TAKE 1.83% OF COMPETITIVES
  • US TSY 2Y FRN AUCTION: INDIRECTS TAKE 48.61% OF COMPETITIVES
  • US TSY 2Y FRN AUCTION: BID/CVR 2.69

FED: US TSY 17W BILL AUCTION: HIGH 4.210%(ALLOT 88.47%)

Apr-23 15:32
  • US TSY 17W BILL AUCTION: HIGH 4.210%(ALLOT 88.47%)
  • US TSY 17W BILL AUCTION: DEALERS TAKE 40.73% OF COMPETITIVES
  • US TSY 17W BILL AUCTION: DIRECTS TAKE 2.97% OF COMPETITIVES
  • US TSY 17W BILL AUCTION: INDIRECTS TAKE 56.30% OF COMPETITIVES
  • US TSY 17W BILL AUCTION: BID/CVR 2.92

US: Bessent Confirms No Unilateral Offer on Cutting Tariffs

Apr-23 15:28

US Treasury Secretary Bessent states that there is no unilateral offer from Trump to cut China tariffs, and that a full China trade deal could take two-to-three years. 

  • Bessent effectively confirms the line from CNBC's Javers on the tariff cut report: that lower tariffs would not be a unilateral offer and would be part of a bilateral trade deal - on which the Treasury Sec notes it could take 2-3 years.
  • The USD sees a phase of selling on the headlines - lifting USD/CNH further off the initial lows - while the e-mini S&P is now lower than pre-WSJ report levels, now either side of 5,450.00.