The Treasury Department. Photo: Chip Somodevilla/Getty Images

Demand for benchmark 10-year notes at Wednesday's U.S. Treasury auction was the worst in a decade, data shows, following Tuesday's sleepy 3-year Treasury note auction that also drew lackluster demand.

Why it matters: The historically weak auctions have come despite falling stock prices and strong buying of safe-haven U.S. debt for much of the year, showing diminishing appetite among some investors.

Worth noting: Data on foreign buyers of Treasury notes is reported on a lag, so it's not yet possible to know whether diminishing Chinese purchases are responsible. However, foreign investors, especially China and Japan, have accounted for a declining share of U.S. government debt buys during the early months of the year.

  • Traders tell Axios there's no clear fundamental reason for the drop.

Go deeper: Bond yields are at historic lows around the world

Go deeper

Ben Geman, author of Generate
55 mins ago - Energy & Environment

Tallying Trump's climate changes

Reproduced from Rhodium Climate Service; Chart: Axios Visuals

The Trump administration's scuttling or weakening of key Obama-era climate policies could together add 1.8 gigatons of carbon dioxide equivalent to the atmosphere by 2035, a Rhodium Group analysis concludes.

Why it matters: The 1.8 gigatons is "more than the combined energy emissions of Germany, Britain and Canada in one year," per the New York Times, which first reported on the study.

Boeing's one-two punch

Illustration: Aïda Amer/Axios

The grounding of Boeing’s 737 MAX was the worst crisis in the plane-maker’s century-long history. At least until the global pandemic hit.

Why it matters: Wall Street expects it will be cleared to fly again before year-end. Orders for what was once the company’s biggest moneymaker were expected to rebound after the ungrounding, but now the unprecedented slump in travel will dash airlines’ appetite for the MAX and any other new planes, analysts say — putting more pressure on the hard-hit company.

New downloads of TikTok, WeChat to be blocked in U.S. on Sunday

Illustration: Sarah Grillo/Axios

The Commerce Department issued Friday an order blocking new downloads of WeChat and TikTok in the U.S. as of Sept. 20.

The state of play: President Trump has been in a standoff with TikTok, threatening to ban the app if its Chinese owner, ByteDance, does not relinquish control to a U.S. company. A deal is in the works with the American tech company Oracle, but would need to go through before Sunday to prevent TikTok from being ousted from app stores.