Weak Demand at Treasury Auction Rattles Bond Market After Ransomware Attack and Powell's Outburst
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30-year Treasury bond auction on Thursday was the worst since November 2021 due to weak demand.
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The ransomware attack on the U.S. arm of ICBC likely disrupted liquidity and impacted the poor auction results.
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Traders were uncertain if weak demand was due to bonds looking less attractive after a rally or the cyberattack.
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Fed Chair Powell's expletive during an IMF panel added to Thursday's uncertainty.
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On Friday, buying resumed in the 30-year bond market, signaling a return of calm after the chaotic events.