Business
The three auctions that could rattle investors’ already shaky nerves – Sydney Morning Herald
There are three auctions of US Treasury securities this week. The lack of demand for the last one saw bond yield spike and sharemarkets fall.
With market economists forecasting, on average, US GDP growth running at around 7.5 per cent and unemployment tumbling from 6.2 per cent to 4.1 per cent by the end of the year, it isnt surprising that investors are worried that rates could rise significantly from their current levels.
Another surge in rates would mean more losses for existing bond investors. This weeks auctions will test whether investors share the optimism of the economists, whose working thesis appears to be that Bidens safety…
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