Jun 18, 2020 - Economy & Business

Traders are favoring 20-year Treasury bonds

Dion Rabouin, author of Markets
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.

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Dion Rabouin, author of Markets
Aug 17, 2020 - Economy & Business

The Fed is back in focus amid Congress' stimulus impasse

Fed Chair Jay Powell. Photo illustration: Aïda Amer/Axios. Photo by Samuel Corum/Getty Images

Even though the Fed's policymaking committee has no meeting scheduled until mid-September, more attention is turning to the central bank as inflation has begun to pick up and Congress left town without delivering a new round of fiscal stimulus.

Why it matters: Since its unprecedented intervention into financial markets in March, the Fed has been seen as the driver of financial markets — holding up stock and bond prices through its massive bond-buying programs.

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Axios
Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 30,241,377 — Total deaths: 947,266— Total recoveries: 20,575,416 — Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 6,681,251 — Total deaths: 197,763 — Total recoveries: 2,540,334 — Total tests: 91,546,598 — Map.
  3. Politics: Trump vs. his own administration on virus response.
  4. Health: Massive USPS face mask operation called off — The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course — 1 million mortgage-holders fall through safety net — How the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.
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Joann Muller, author of Navigate
2 hours ago - Economy & Business

Anxious days for airline workers as mass layoffs loom

Sara Nelson, president of the Association of Flight Attendants, during a Sept. 9 protest outside the Capitol. Photo: Alex Wong/Getty Images

The clock is ticking for tens of thousands of anxious airline employees, who face mass reductions when the government's current payroll support program expires on Sept. 30.

Where it stands: Airline CEOs met Thursday with White House Chief of Staff Mark Meadows, who said President Trump would support an additional $25 billion from Congress to extend the current aid package through next March.

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