Stocks got a bump late in the day after the US Treasury announced it would borrow $55 billion less than projected last quarter.
It now expects to borrow just $760 billion in privately held net marketable debt, assuming an end-of-March cash balance of $750 billion. Meanwhile, the Treasury also noted it would need to borrow $202 billion in the April to June quarter.
This led to the rate falling an additional 2 bps on the day. They had already been down four bps before the announcement and finished the day lower by six bps.
US 10-Year Yield Chart
This also helped to take away some of the days gains in the . The dollar has still been unable to get above the 103.50 region of resistance.
At least for now, the momentum still appears bullis…
Read the full article at: https://www.investing.com/analysis/debtrelief-rally-shortlived-focus-shifts-to-fed-earnings-amid-crucial-week-200645599