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Treasury Auction Clears at 5.3%, a 25-Year High

“As we told you earlier, yields were already at a 24-year high.” — Vera Bullock, on air

On air: Hank Ledger and Vera Bullock on The Closing Bell
Published
Updated · aired 2 times

At a glance

The real story

The reporting behind this segment. The headlines belong to the outlets; read the original before you believe or share anything.

  • WSJU.S. Treasury Pays Highest Borrowing Costs Since 2000

What BBN said about it

  1. Vera Bullock · Co-AnchorThe Journal says that is the highest borrowing cost for the government since 2000.

  2. Vera Bullock · Co-AnchorAs we told you earlier, yields were already at a 24-year high.

  3. Hank Ledger · Lead AnchorWhat's new is the auction itself. Buyers demanded five point three percent to lend to Washington for ten years.

  4. Hank Ledger · Lead AnchorThe ten-year yield then dropped after the sale.

  5. Vera Bullock · Co-AnchorIt matters because higher yields pressure bonds, stocks, and refinancing across the economy. That is the Journal's angle, and it is a fair one.

  6. Hank Ledger · Lead AnchorThe market is feeling it.

  7. Hank Ledger · Lead AnchorThe Dow is down point six eight percent, the S and P is off point two one, and the Russell is down one point three two.

  8. Vera Bullock · Co-AnchorFutures are lower too. S and P futures are down point two nine percent. Watch the close and the next Fed signal.

  9. Hank Ledger · Lead AnchorVera, the government just paid its highest rate in twenty-five years. Is that still a gift from God?

  10. Vera Bullock · Co-AnchorHank, it's a gift with a late fee. Washington put it on a credit card and the card said yes.

  11. Hank Ledger · Lead AnchorUncle Sam is now the guy who finances a sandwich. We stay on it into the close.

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Also on air

The story so far

  1. Iran Oil Minister Quits; Treasury Warns Banks on Iran Ties · OilPrice
  2. Treasury Yields Top 5%; Glasgow Space Boom; Saudi Case · CNBC
  3. Quebec Elects Separatist Party; Yields Debate Rages · The New York Times
  4. Bovespa Jumps 7.7%; Long-End Yields Stay Elevated · WSJ
  5. Stocks Slide as Oil Climbs, 10-Year Yield Hits 24-Year High · WSJ
  6. Treasury Auction Clears at 5.3%, a 25-Year High (this story)
  7. Treasury Selloff Pushes 10- and 30-Year Yields to 24-Year Highs · Economic Times
  8. Yields Hit 24-Year Highs; Futures Flat After the Bell · Economic Times
  9. Yields Hold at 5.277% as Dow Slides and Russell Sinks · WSJ
  10. Stocks Slip, Oil Surges Ahead of Treasury Auction · Investing.com

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