As usual the alarmists and doomsayers are . . . alarmists and doomsayers.
Demand for US debt is steady and strong this week:
3MO at 4.225% average vs. 4.225% previously
6MO at 4.05 vs. 4.06 previously
2Y at 3.795 vs. 3.984 previously
5Y at 3.995 vs. 4.1 previously
7Y at 4.123 vs. 4.233 previously.
Yields across the curve last night averaged 4.240, down from 4.261 a week ago, below the Daily Fed Funds Rate at 4.33.
