US sells USD 69bln of 2yr notes: Tail 0.2bps

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Fed's Barkin (2027 voter) says the labor market is not overheated or even particularly tight; does not see much evidence that consumer balance sheets are stretched

Open AI will reportedly allow outside groups assess AI models at an earlier phase

US sells USD 69bln of 2yr notes: Tail 0.2bps

US Money Supply (Aug) 23.34T (Prev. 23.22T)

Fed's Barkin says Fed raised rates last week because risks to inflation outweigh risks to maximum employment

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  • Tail: 0.2bps (prev. -0.4bps, six-auction average 0.1bps); WI 4.785%.
  • High Yield: 4.787% (prev. 4.204%, six-auction average 4.088%)
  • B/C: 2.63x (prev. 2.60x, six-auction average 2.61x)
  • Dealer: 13.19% (prev. 10.9%, six-auction average 13.1%)
  • Direct: 29.02% (prev. 23.1%, six-auction average 28.3%)
  • Indirect: 57.79% (prev. 66.0%, six-auction average 58.6%)

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