Usually on the day of a Fed decision there is a lot of waiting around but there was enough moving macro parts to keep us more than occupied and the moves today could be larger than we have post the Fed given that is expected to be a bit of a non-event. First there was the Treasury quarterly refunding announcement where they boosted funding by $9bn to $112bn that was below expectations. Almost all saw a boost in size, in line with expectations, while the 20y issue was held steady and the sales o…
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