US sells USD 105bln of 4-wk bills at high-rate 3.630%, B/C 2.86x; sells USD 95bln of 8-wk bills at high-rate 3.635%, B/C 2.87x
The US Treasury's auction results show strong demand for both 4-week and 8-week bills, indicated by bid-to-cover ratios above 2.8x.
Starbucks (SBUX) sees near 40k locations outside US beyond FY28 and sees 15-20k new coffeehouses in China beyond FY28
Tesla (TSLA) says we will continue to support Model S & X programmes for as long as people own vehicles
US sells USD 105bln of 4-wk bills at high-rate 3.630%, B/C 2.86x; sells USD 95bln of 8-wk bills at high-rate 3.635%, B/C 2.87x
European Closes: Euro Stoxx 50 -0.55% at 5,901, Dax 40 -2.13% at 24,293, FTSE 100 +0.17% at 10,172, CAC 40 +0.06% at 8,071, FTSE MIB -0.14% at 45,076, IBEX 35 -0.17% at 17,577, PSI -0.22% at 8,644, SMI +0.79% at 13,147, AEX -0.02% at 997
US President Trump says "had a very productive telephone conversation with President Sheinbaum, of Mexico. It went extremely well for both Countries. Much of it was focused on the Border, stopping Drug Trafficking, and Trade. Will be speaking again, soon"
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The high yields at 3.630% and 3.635%, respectively, suggest that the market is pricing in a higher rate environment, reflecting investor appetite for short-term securities amidst ongoing monetary policy dynamics. This strong demand could signal confidence in the Treasury's issuance strategy and may influence short-term rate expectations going forward.
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