Beth Stanton
@bethstanton.bsky.social
Bloomberg News editor for US interest rates. Monitoring Treasuries, futures, TIPS since 1997. Daily posts on US Treasury market on the former bird site (beth_stanton) since June 2020. Opinions mine.
Pinned
#TreasuriesToday: Yields lower by 1bp-2bp near session lows after gapping higher at the Asia open. December index return -0.33%, 2025 return 6.3%, best since 2020. Coupon auctions resume Jan. 12 with 3Y new issue & 10Y reopening.
January 2, 2026 at 12:58 PM
#TreasuriesToday: Yields lower by 1bp-2bp near session lows after gapping higher at the Asia open. December index return -0.33%, 2025 return 6.3%, best since 2020. Coupon auctions resume Jan. 12 with 3Y new issue & 10Y reopening.
#TreasuriesToday: Yields little changed. Month-end index changes (at 1pm in line with early CME interest-rate futures settlement) to extend duration by ~0.06 year. $220b coupon settlement ($88.3b net). Other early-close times include 2pm SIFMA reco for cash. (Stocks normal.)
December 31, 2025 at 12:43 PM
#TreasuriesToday: Yields little changed. Month-end index changes (at 1pm in line with early CME interest-rate futures settlement) to extend duration by ~0.06 year. $220b coupon settlement ($88.3b net). Other early-close times include 2pm SIFMA reco for cash. (Stocks normal.)
#TreasuriesToday: Yields up 1bp-3bp near session highs on year's last full-length trading day. Wednesday's month-end index extension (at 1pm in line with early settlement time for CME interest-rate futures) to extend its duration by an estimated 0.06 year.
December 30, 2025 at 12:44 PM
#TreasuriesToday: Yields up 1bp-3bp near session highs on year's last full-length trading day. Wednesday's month-end index extension (at 1pm in line with early settlement time for CME interest-rate futures) to extend its duration by an estimated 0.06 year.
#TreasuriesToday: Yields lower by about 1bp to begin year's last Monday session. Ahead this week: month-end index extension (at 1pm Wednesday in line with early settlement time for CME interest-rate futures) to extend its duration by an estimated 0.06 year.
December 29, 2025 at 12:42 PM
#TreasuriesToday: Yields lower by about 1bp to begin year's last Monday session. Ahead this week: month-end index extension (at 1pm Wednesday in line with early settlement time for CME interest-rate futures) to extend its duration by an estimated 0.06 year.
#TreasuriesToday: Yields narrowly mixed to begin year's last Friday session. Ahead next week: month-end index rebalancing (at 1pm Wednesday in line with early settlement time for CME interest-rate futures) to extend its duration by an estimated 0.06 year.
December 26, 2025 at 12:47 PM
#TreasuriesToday: Yields narrowly mixed to begin year's last Friday session. Ahead next week: month-end index rebalancing (at 1pm Wednesday in line with early settlement time for CME interest-rate futures) to extend its duration by an estimated 0.06 year.
#TreasuriesToday: Yields higher by 2bp-4bp inside this week's ranges as oil price rebounds from YTD low. $13b 20Y reopening (1st) at 1pm. WI yield near 4.81% exceeds 20Y auction results since August. Buyback (liquidity support) of up to $4b in 3Y-5Y sector closes at 2pm.
December 17, 2025 at 12:35 PM
#TreasuriesToday: Yields higher by 2bp-4bp inside this week's ranges as oil price rebounds from YTD low. $13b 20Y reopening (1st) at 1pm. WI yield near 4.81% exceeds 20Y auction results since August. Buyback (liquidity support) of up to $4b in 3Y-5Y sector closes at 2pm.
#TreasuriesToday: Yields little changed, edging lower ahead of delayed November jobs report. Swaps price in about 5bp of Fed easing for Jan & a cumulative 54bp for 2026. Auctions ahead this week: $13b 20Y Weds, $24b 5Y TIPS Thurs (both 1st reopenings).
December 16, 2025 at 12:52 PM
#TreasuriesToday: Yields little changed, edging lower ahead of delayed November jobs report. Swaps price in about 5bp of Fed easing for Jan & a cumulative 54bp for 2026. Auctions ahead this week: $13b 20Y Weds, $24b 5Y TIPS Thurs (both 1st reopenings).
#TreasuriesToday: Yields lower by 1bp-3bp with curve flatter. In Friday's steepening selloff, 2s10s reached 67bp, 5s30s 112bp, last seen in April/Nov respectively. $119b coupon settlement ($79b net). Auctions ahead this week: $13b 20Y Weds, $24b 5Y TIPS Thurs (1st reopenings).
December 15, 2025 at 12:43 PM
#TreasuriesToday: Yields lower by 1bp-3bp with curve flatter. In Friday's steepening selloff, 2s10s reached 67bp, 5s30s 112bp, last seen in April/Nov respectively. $119b coupon settlement ($79b net). Auctions ahead this week: $13b 20Y Weds, $24b 5Y TIPS Thurs (1st reopenings).
#TreasuriesToday: Yields higher by as much as 3bp, curve steeper. 30Y near 4.83% exceeds closing levels since Sept. 4 (day before weak August jobs report). Ahead next week: $13b 20Y reopening (1st) Weds, $24b 5Y TIPS reopening Thurs & several delayed economic data releases.
December 12, 2025 at 12:38 PM
#TreasuriesToday: Yields higher by as much as 3bp, curve steeper. 30Y near 4.83% exceeds closing levels since Sept. 4 (day before weak August jobs report). Ahead next week: $13b 20Y reopening (1st) Weds, $24b 5Y TIPS reopening Thurs & several delayed economic data releases.
#TreasuriesToday: Yields lower by ~2bp. $22b 30Y reopening (1st) at 1pm. WI yield near 4.77% > 30Y stops since Aug. Next week's auction sizes at 11am: $13b 20Y reopening & $24b 5Y TIPS reopening projected. Buyback (cash management) of up to $12.5b in 1M-2Y sector closes at 2pm.
December 11, 2025 at 12:50 PM
#TreasuriesToday: Yields lower by ~2bp. $22b 30Y reopening (1st) at 1pm. WI yield near 4.77% > 30Y stops since Aug. Next week's auction sizes at 11am: $13b 20Y reopening & $24b 5Y TIPS reopening projected. Buyback (cash management) of up to $12.5b in 1M-2Y sector closes at 2pm.
The pink cube marks 25 years with Bloomberg News (as of Jan. 2), and my team surprised me with it (and fancy cupcakes!) while we were waiting for the Fed decision. There have been 200 regular ones in that span, the unforgettable first of which was on my second day!
December 10, 2025 at 9:38 PM
The pink cube marks 25 years with Bloomberg News (as of Jan. 2), and my team surprised me with it (and fancy cupcakes!) while we were waiting for the Fed decision. There have been 200 regular ones in that span, the unforgettable first of which was on my second day!
#TreasuriesToday: Yields higher by 1bp-2bp, at or near high end of ranges in place since Aug-Sept. Ahead of 2pm Fed decision, swaps price in about 22bp of a 25bp rate cut & about 45bp of additional easing next year. Median Sept dots were 3.375% for 2026, 3.125% for 2027.
December 10, 2025 at 12:38 PM
#TreasuriesToday: Yields higher by 1bp-2bp, at or near high end of ranges in place since Aug-Sept. Ahead of 2pm Fed decision, swaps price in about 22bp of a 25bp rate cut & about 45bp of additional easing next year. Median Sept dots were 3.375% for 2026, 3.125% for 2027.
#TreasuriesToday: Yields little changed inside Monday's ranges, which included highest 30Y (4.83%) since Sept. 5. $39b 10Y reopening (1st) at 1pm (a day earlier than usual to keep Wednesday clear for FOMC) has WI yield near 4.17%, higher than last three 10Y results.
December 9, 2025 at 12:48 PM
#TreasuriesToday: Yields little changed inside Monday's ranges, which included highest 30Y (4.83%) since Sept. 5. $39b 10Y reopening (1st) at 1pm (a day earlier than usual to keep Wednesday clear for FOMC) has WI yield near 4.17%, higher than last three 10Y results.
#TreasuriesToday: Yields higher by 1bp-2bp, 30Y (4.80%) highest since early September. $58b 3Y new-issue auction at 1pm (a day earlier than usual to keep Wednesday clear for FOMC) has WI yield near 3.60%, slightly higher than last three 3Y auction results.
December 8, 2025 at 12:43 PM
#TreasuriesToday: Yields higher by 1bp-2bp, 30Y (4.80%) highest since early September. $58b 3Y new-issue auction at 1pm (a day earlier than usual to keep Wednesday clear for FOMC) has WI yield near 3.60%, slightly higher than last three 3Y auction results.
#TreasuriesToday: Yields higher by 1bp-3bp led by 30Y, near 4.78%, highest since Sept. 25. Auctions ahead next week: $58b 3Y new issue Mon, $39b 10Y & $22b 30Y reopenings (1st) Tues & Thurs (3Y & 10Y each a day earlier than usual because FOMC Weds).
December 5, 2025 at 12:32 PM
#TreasuriesToday: Yields higher by 1bp-3bp led by 30Y, near 4.78%, highest since Sept. 25. Auctions ahead next week: $58b 3Y new issue Mon, $39b 10Y & $22b 30Y reopenings (1st) Tues & Thurs (3Y & 10Y each a day earlier than usual because FOMC Weds).
#TreasuriesToday: Yields higher by as much as 2bp-3bp. Curve flatter. Next week's auction sizes at 11am: $58b 3Y new issue, $39b 10Y & $22b 30Y reopenings projected. Buyback (liquidity support) of up to $2b in 10Y-20Y sector closes at 2pm.
December 4, 2025 at 12:40 PM
#TreasuriesToday: Yields higher by as much as 2bp-3bp. Curve flatter. Next week's auction sizes at 11am: $58b 3Y new issue, $39b 10Y & $22b 30Y reopenings projected. Buyback (liquidity support) of up to $2b in 10Y-20Y sector closes at 2pm.
#TreasuriesToday: Yields down 2bp-3bp near session lows. 10Y near 4.06% is back below 50-day average level after closing above it Mon & Tues. Buyback (cash management) of up to $12.5b in 1M-2Y sector closes at 2pm. Coupon auctions resume with 3Y on Dec. 8.
December 3, 2025 at 12:43 PM
#TreasuriesToday: Yields down 2bp-3bp near session lows. 10Y near 4.06% is back below 50-day average level after closing above it Mon & Tues. Buyback (cash management) of up to $12.5b in 1M-2Y sector closes at 2pm. Coupon auctions resume with 3Y on Dec. 8.
#TreasuriesToday: Yields higher by 1bp-3bp at highest levels in more than a week (10Y 4.11% & back above 50-day average) with curve steeper. New corporate bond sales, a driver of Monday's selloff, may again set the tone, with Treasury auctions on hiatus until 3Y on Dec. 8.
December 2, 2025 at 12:45 PM
#TreasuriesToday: Yields higher by 1bp-3bp at highest levels in more than a week (10Y 4.11% & back above 50-day average) with curve steeper. New corporate bond sales, a driver of Monday's selloff, may again set the tone, with Treasury auctions on hiatus until 3Y on Dec. 8.
#TreasuriesToday: Yields higher by 1bp-5bp inside last week's ranges, with Japan leading a global government bond selloff. Curve steeper. $199b coupon settlement ($83.9b net). Nov index return 0.6%, YTD 6.7%. Auctions resume with 3Y on Dec. 8.
December 1, 2025 at 12:35 PM
#TreasuriesToday: Yields higher by 1bp-5bp inside last week's ranges, with Japan leading a global government bond selloff. Curve steeper. $199b coupon settlement ($83.9b net). Nov index return 0.6%, YTD 6.7%. Auctions resume with 3Y on Dec. 8.
#TreasuriesToday: Yields higher by 1bp-2bp inside Tuesday's rally ranges. Week's auctions conclude with $44b 7Y at 11:30am (vs usual 1pm ahead of tomorrow's US 🦃 holiday, but market hours are regular). WI yield near 3.77% is lower than 7Y auction results since Sept 2024.
November 26, 2025 at 12:44 PM
#TreasuriesToday: Yields higher by 1bp-2bp inside Tuesday's rally ranges. Week's auctions conclude with $44b 7Y at 11:30am (vs usual 1pm ahead of tomorrow's US 🦃 holiday, but market hours are regular). WI yield near 3.77% is lower than 7Y auction results since Sept 2024.
Correction: auction yield was lowest since September 2024 & wasn't ever indicated to be lower than that.
#TreasuriesToday: Yields narrowly mixed with curve slightly flatter. $70b 5Y note auction at 1pm has WI yield near 3.60%, lower than 5Y auction results since Aug 2022. New 2Y 3.49%, near even with Monday's auction result. Buyback of up to $750m of 1Y-10Y TIPS closes at 2pm.
November 25, 2025 at 6:35 PM
Correction: auction yield was lowest since September 2024 & wasn't ever indicated to be lower than that.
#TreasuriesToday: Yields narrowly mixed with curve slightly flatter. $70b 5Y note auction at 1pm has WI yield near 3.60%, lower than 5Y auction results since Aug 2022. New 2Y 3.49%, near even with Monday's auction result. Buyback of up to $750m of 1Y-10Y TIPS closes at 2pm.
November 25, 2025 at 12:44 PM
#TreasuriesToday: Yields narrowly mixed with curve slightly flatter. $70b 5Y note auction at 1pm has WI yield near 3.60%, lower than 5Y auction results since Aug 2022. New 2Y 3.49%, near even with Monday's auction result. Buyback of up to $750m of 1Y-10Y TIPS closes at 2pm.
#TreasuriesToday: Yields mixed with curve flatter (30Y lower by 3bp). $69b 2Y auction at 1pm (a day earlier than usual because US holiday Thurs) has WI yield near 3.49%, would be lowest result since 2022. Friday's month-end index changes to extend its duration by 0.11 year (est).
November 24, 2025 at 12:51 PM
#TreasuriesToday: Yields mixed with curve flatter (30Y lower by 3bp). $69b 2Y auction at 1pm (a day earlier than usual because US holiday Thurs) has WI yield near 3.49%, would be lowest result since 2022. Friday's month-end index changes to extend its duration by 0.11 year (est).
#TreasuriesToday: Yields lower by 2bp-3bp, 2Y-10Y at monthly lows, as Fed's Williams revives Dec rate cut possibility. Dec options expire. Auctions next 🦃 week: $69b 2Y Mon, $70b 5Y Tues, $44b 7Y (Weds at 11:30am despite regular market hours). Early closes Fri (month-end).
November 21, 2025 at 12:53 PM
#TreasuriesToday: Yields lower by 2bp-3bp, 2Y-10Y at monthly lows, as Fed's Williams revives Dec rate cut possibility. Dec options expire. Auctions next 🦃 week: $69b 2Y Mon, $70b 5Y Tues, $44b 7Y (Weds at 11:30am despite regular market hours). Early closes Fri (month-end).
#TreasuriesToday: Yields higher by as much as 2bp with curve flatter. $19b 10Y TIPS reopening (2nd) at 1pm has WI yield near 1.85%. Next week's auction sizes at 11am: $69b 2Y, $70b 5Y & $44b 7Y projected. Buyback of up to $2b in 20Y-30Y sector closes at 2pm.
November 20, 2025 at 12:47 PM
#TreasuriesToday: Yields higher by as much as 2bp with curve flatter. $19b 10Y TIPS reopening (2nd) at 1pm has WI yield near 1.85%. Next week's auction sizes at 11am: $69b 2Y, $70b 5Y & $44b 7Y projected. Buyback of up to $2b in 20Y-30Y sector closes at 2pm.