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12.02.26 - 19:51
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Stellar 30Y Auction Stops Through As Bid To Cover Soars, Dealers Plunge To Record Low (ZeroHedge)
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Stellar 30Y Auction Stops Through As Bid To Cover Soars, Dealers Plunge To Record Low
It was the polar opposite to yesterday's slop.
After a mediocre 3Y, and a dismal 10Y auction yesterday, moments ago the Treasury concluded the sale of the week's final refunding auction, when it unloaded $25BN in 30Y paper to seemingly endless demand.
The auction stopped at a high yield of 4.750%, down from 4.825% in January, and the lowest since November. It also stopped through the 4.771% When Issued by 2.1bps, the biggest stop since LIberation Day in April 2025.
The bid to cover was 2.662, up sharply from 2.418 and the highest since January 2018! An oddity today is that the Fed's SOMA tendered for, and accepted, a whopping $7.1 billion, a continuation of yesterday's massive retention when the SOMA ended up with over $11BN of the 10Y.
The internals were also stellar, with Indirects taking down 69.94%, up from 66.77% and the highest since November. And with Directs rising to 24.18% (if not a record h...
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28.01.26 - 08:24
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′My Tesla has become ordinary′: Turkey catches up with EU in electric car sales (The Guardian)
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Popularity of EVs in country is part of global trend of emerging markets spurning fossil fuel cars at surprising speedsWhen Berke AstarcıoÄlu bought a BMW i3 in 2016, he was one of just 44 people in a country of 80 million to buy a battery electric vehicle (BEV) that year. By the time he bought a Tesla in 2023, BEVs were no longer a complete oddity in Turkey, making up 7% of new car sales.Fast-forward two years and electric cars are selling so fast that Turkey has caught up with the EU in its rate of adoption. Its market is now the fourth largest in Europe, behind Germany, the UK and France. Continue reading......
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