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US Rates: Previewing the August refunding announcement

At Any Rate

00:00

Navigating Treasury Market Dynamics

This chapter analyzes the effects of an upcoming refunding announcement on rates markets and investor behaviors, focusing on auction sizes and asset swaps. It discusses the implications of increasing T-bill shares and the expected changes in Treasury issuance, particularly regarding short and intermediate-term bonds. The conversation emphasizes the influence of fiscal and monetary policies on the yield spread and forecasts market adjustments to new supply in the upcoming year.

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