From Jeannine - Lions Alert... The Debt Market Just Fired A REAL Warning Shot. (And It Was Not The 10yr Yield). Gregory Mannarino

Lions…

A 2-year note auction? No one usually pays attention, we do,…but today was different. BIG TIME.

The Treasury had to pay 3.936% to move $69B of 2 year paper, and demand was weaker than last month.

WHAT THIS MEANS… Previous 2 year auction high yield was 3.455%. Today’s was 3.936%! A jump of 48.1 basis points. (Lions… that is HUGE).

And dealers themselves had to absorb an unusually large share.

Lions… the debt market is getting very uncomfortable.

GM Source