The Treasury benchmark jumped above 1.50% on Thursday afternoon, after investors showed a lukewarm demand for $ 62 billion in 7-year notes. The yield of the 10-year banknote TMUBMUSD10Y,
rose 15 basis points to 1.54%. Bond prices move in the opposite direction from earnings. Peter Boockvar, chief investment officer at the Bleakley Advisory Group, described the results of the 7-year banknote auction as “terrible” after falling 4.2 basis points, the highest in the auction’s history. The tail is the difference between the highest yield that the Treasury sold at the auction and the yield before the auction started. Analysts cited the 1.50% level as a fundamental limit for the bond market, which could portend problems for US stocks.
