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Data: Investing.com; Chart: Axios Visuals

The newly reissued 20-year U.S. Treasury bond saw strong demand in its second auction of 2020 on Wednesday, selling $17 billion worth of notes for a high yield of 1.31%.

Why it matters: That was around two basis points lower than where they had traded before the auction and yields declined further to 1.24% in overnight trading.

  • The market movement suggests a continued appetite for safe-haven U.S. government debt at all maturities.

The big picture: Treasury yields have broadly declined recently. Benchmark 10-year yields have fallen by nearly 30 basis points from 11-week highs reached on June 5 after the release of the May U.S. jobs report.

Flashback: The government saw weak demand for its auction of the 20-year note in May that was the first for that maturity since 1986. It relaunched the bond to help finance the significant increases in spending.

Go deeper

Dion Rabouin, author of Markets
Sep 24, 2020 - Economy & Business

The stock market's not-enough tantrum

Illustration: Eniola Odetunde/Axios

The market looks like it may be throwing another tantrum, investors say. But the cause is different this time around.

What's happening: This selloff is beginning to look like the 2013 taper tantrum, which roiled markets as U.S. government yields rose in response to an expected reduction of the Fed's quantitative easing (QE) program.

Mike Allen, author of AM
3 hours ago - World

Courage vs. coddling with China

Peng Shuai of China serves during the China Open in Beijing in 2017. Photo: Andy Wong/AP

The women's professional tennis tour suspended tournaments in China Wednesday out of concern for Peng Shuai, on the same day that a top business voice made excuses for Beijing.

Why it matters: Ahead of February's Winter Olympics in Beijing, some sports figures are taking on the regime — while Big Business shrinks from confrontation with the world's second-largest economy.

3 hours ago - Sports

What to know about the first MLB lockout since 1995

Illustration: Shoshana Gordon/Axios

Hope you enjoyed the recent flurry of free-agent activity, because it's likely the last non-lockout-related MLB news for a while.

Driving the news: The owners locked out the players after the collective bargaining agreement expired at midnight last night, leading to MLB's ninth work stoppage — and first since 1995.