Impact from poor 7 year auction not lasting

The 7 year note auction was pretty bad. I gave it a grade of F. Rick Santelli on CNBC was generous and gave it a D-. Either way the auction was not all that hot.

However, after a brief tick higher in yields, buyers came back in and yields started to move back to the downside.

A look at the yield curve currently shows:

• 2 year yield Yield A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as Read this Term 4.518%, unchanged
• 5 year yield 3.939%, -3.8 basis points
• 7 year yield 3.877% -5.2 basis points
• 10 year yield 3.755%, -7.1 basis points
• 30 year yield 3.829%, -7.7 basis points

The further inversion of the yield curve Yield Curve A yield curve is a line used to help determine interest rates of interest rates for a specific bond, differentiated by contract lengths. This is useful for contrasting maturity dates, for example 1 month, 1 year, etc.In particular, yield curves help underscore the relationship between interest rates or borrowing costs and the time to maturity.Some of the best examples of this include US Treasury Securities, which are among some of the most observed worldwide by traders. By determining the slope A yield curve is a line used to help determine interest rates of interest rates for a specific bond, differentiated by contract lengths. This is useful for contrasting maturity dates, for example 1 month, 1 year, etc.In particular, yield curves help underscore the relationship between interest rates or borrowing costs and the time to maturity.Some of the best examples of this include US Treasury Securities, which are among some of the most observed worldwide by traders. By determining the slope Read this Term now has the 2-10 year spread at a new low inversion going back to 1988 at -75.9 basis points. This is saying the market is thinking the Fed will tighten into a recession that will lead to the Fed reversing course on policy as well. .

Fed commentary this week has the Fed continuing to raise rates into 2023 with a terminal rate near 5%, but it could also be higher.