Wednesday’s auction of 10-year U.S. Treasury notes undermined the narrative that investors are moving away from U.S. government debt, the bedrock of global finance, and pouring money instead into bitcoin
and gold.
Thursday’s sale of $22 billion of 30-year bonds may provide further clues to investor confidence in the fiscal policies of U.S. President Donald Trump since he initiated the global trade war in early April and help signal whether the notes are losing their shine as the premier fixed-income instrument backed by the deepest liquidity and low credit risk.
STORY CONTINUES BELOW
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