Treasuries Fall as Amazon Readies $25 Billion Bond Sale, Pushing 30-Year Yield Near 5%
Updated
Updated · Bloomberg · Jul 7
Treasuries Fall as Amazon Readies $25 Billion Bond Sale, Pushing 30-Year Yield Near 5%
1 articles · Updated · Bloomberg · Jul 7
Summary
Treasury yields rose about 3 to 4 basis points across maturities ahead of a 1 p.m. New York auction of three-year notes, pressuring prices across the market.
Oil's rebound on renewed threats to Middle East supply added to the selloff by reviving inflation concerns that had eased when crude fell last month.
Amazon's planned bond offering, expected to raise at least $25 billion, also weighed on Treasuries as investors prepared for a large burst of corporate debt supply.
The 30-year Treasury yield hovered around 5%, a level it has not closed above since early June, underscoring how quickly long-dated borrowing costs have turned higher.