The Treasury
Every Sainteur story on the Treasury, newest first.
Congress returns with Dec. 11 funding, the debt limit and a Hegseth impeachment push
The lame-duck window is about five weeks: funding expires Dec. 11, the NDAA is unfinished, and Rep. Thomas Massie is expected to reintroduce a Hegseth impeachment resolution as early as Monday.
Japan bought a record ¥7.98 trillion of yen in one day, MOF data show
Japan's Ministry of Finance said the government sold dollars and bought yen totaling ¥7,975.6 billion on July 30, above April's record. Total July–September intervention was ¥15,399.3 billion.
July 31 included coordinated yen-buying with the United States, Asahi reported.
Treasury keeps auctions steady but softens guidance on future coupon sizes
Treasury dropped “at least” from its pledge to hold coupon sizes, and analysts read that as an opening for changes in the first half of 2027.
Treasuries rally as investors bet a Democratic Congress will limit spending
Two-year yields fell to an almost two-month low before giving some of it back, and money markets slightly trimmed their bets on Fed hikes next year.
Democrats win the House and Senate, and investors weigh what it means for AI and taxes
Bonds won the morning as investors bet gridlock will slow government spending and a Democratic Congress will look harder at AI.
Stock futures are mixed and Treasury yields edge up as Election Day arrives
Polls favor Democrats to win the House while the Senate is uncertain, and analysts see different implications for spending and markets.
The most US-aligned countries cut Treasury buying by more than 60% through August, Bloomberg finds
Bloomberg counts $174.3 billion of net Treasury buying by the most US-aligned countries from January to August, the least since 2021, with Asia leading the pullback as Japan's buying all but stopped and South Korea and Taiwan sold.
France's debt troubles look like everyone else's, only worse
A big deficit, a stalled budget and record planned bond sales for 2027 have made French debt the euro zone's pressure point, and other indebted countries are feeling it.
Global credit spreads hit a 17-month high as AI borrowing fears spread to bonds
A Bloomberg index of global corporate bond spreads hit its widest since May 2025. This week Meta disclosed about $825 billion in commitments and a forecast need to raise hundreds of billions of dollars.
10-year Treasury yield drops below 5% as AI jitters send investors running for safety
A sell-off in stocks over the AI trade sent money into government bonds on Thursday, pulling the 10-year yield under 5% for the first time since Sept. 23, with the odds of a Fed hike next week down to 7.2%.
OCC finalizes stablecoin rules under the GENIUS Act, effective Jan. 18, 2027
The bank regulator's final rule sets requirements for stablecoin issuers and custody. Existing US issuers that file a substantially complete application by Jan. 18, 2027, can generally expect waivers from the prior-approval requirement, but the application window isn't open yet.