https://www.msn.com/en-us/money/markets/30-year-treasury-auction-breaks-bad-sinks-stock-market/ar-AA1jFm21
The Treasury’s auction of 30-year bonds on Thursday went about as bad as it could, indicating investor reluctance to own long-dated government securities.
At the auction of government debt that matures in 30 years, investors were awarded 4.769% in yield, 0.051 percentage point higher than the yield in pre-auction trading. The difference between the two yields—called a tail—indicated a weak auction where the U.S. government had to entice investors with a premium over the market to buy their debt. When demand is weak, yields typically move higher and it’s the inverse when demand is strong.
Stocks didn’t like the auction either. The S&P 500 has dropped 0.3%, while the Dow Jones Industrial Average has declined 96.14 points, or 0.3%, and the Nasdaq Composite has fallen 0.2%. ((Note: these are the numbers for Thursday Nov. 9. I realize the thread is about Nov 8 --Progree))
I don't know that one can blame the very modest ordinary move by the stock market on the Treasury auction.
I've written before
how I've been affected by the downturn in my bond funds, over the the last 2 years, adjusted for inflation.
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