I also make hats

#TreasuriesToday: Yields higher by 1bp-2bp, at or near high end of ranges in place since Aug-Sept. Ahead of 2pm Fed decision, swaps price in about 22bp of a 25bp rate cut & about 45bp of additional easing next year. Median Sept dots were 3.375% for 2026, 3.125% for 2027.

The pink cube marks 25 years with Bloomberg News (as of Jan. 2), and my team surprised me with it (and fancy cupcakes!) while we were waiting for the Fed decision. There have been 200 regular ones in that span, the unforgettable first of which was on my second day!

#TreasuriesToday: Yields lower by ~2bp. $22b 30Y reopening (1st) at 1pm. WI yield near 4.77% > 30Y stops since Aug. Next week's auction sizes at 11am: $13b 20Y reopening & $24b 5Y TIPS reopening projected. Buyback (cash management) of up to $12.5b in 1M-2Y sector closes at 2pm.

#TreasuriesToday: Yields higher by as much as 3bp, curve steeper. 30Y near 4.83% exceeds closing levels since Sept. 4 (day before weak August jobs report). Ahead next week: $13b 20Y reopening (1st) Weds, $24b 5Y TIPS reopening Thurs & several delayed economic data releases.

#TreasuriesToday: Yields lower by 1bp-3bp with curve flatter. In Friday's steepening selloff, 2s10s reached 67bp, 5s30s 112bp, last seen in April/Nov respectively. $119b coupon settlement ($79b net). Auctions ahead this week: $13b 20Y Weds, $24b 5Y TIPS Thurs (1st reopenings).

#TreasuriesToday: Yields little changed, edging lower ahead of delayed November jobs report. Swaps price in about 5bp of Fed easing for Jan & a cumulative 54bp for 2026. Auctions ahead this week: $13b 20Y Weds, $24b 5Y TIPS Thurs (both 1st reopenings).

#TreasuriesToday: Yields higher by 2bp-4bp inside this week's ranges as oil price rebounds from YTD low. $13b 20Y reopening (1st) at 1pm. WI yield near 4.81% exceeds 20Y auction results since August. Buyback (liquidity support) of up to $4b in 3Y-5Y sector closes at 2pm.

#TreasuriesToday: Yields narrowly mixed to begin year's last Friday session. Ahead next week: month-end index rebalancing (at 1pm Wednesday in line with early settlement time for CME interest-rate futures) to extend its duration by an estimated 0.06 year.

#TreasuriesToday: Yields lower by about 1bp to begin year's last Monday session. Ahead this week: month-end index extension (at 1pm Wednesday in line with early settlement time for CME interest-rate futures) to extend its duration by an estimated 0.06 year.

#TreasuriesToday: Yields up 1bp-3bp near session highs on year's last full-length trading day. Wednesday's month-end index extension (at 1pm in line with early settlement time for CME interest-rate futures) to extend its duration by an estimated 0.06 year.

#TreasuriesToday: Yields little changed. Month-end index changes (at 1pm in line with early CME interest-rate futures settlement) to extend duration by ~0.06 year. $220b coupon settlement ($88.3b net). Other early-close times include 2pm SIFMA reco for cash. (Stocks normal.)

#TreasuriesToday: Yields lower by 1bp-2bp near session lows after gapping higher at the Asia open. December index return -0.33%, 2025 return 6.3%, best since 2020. Coupon auctions resume Jan. 12 with 3Y new issue & 10Y reopening.

#TreasuriesToday: Yields lower by 1bp-3bp inside last week's ranges, with oil rebounding from drop of less than 2%. A heavy week of new corporate bonds is anticipated following hiatus since Dec. 15. Coupon auctions resume Jan. 12 with 3Y new issue & 10Y reopening.

#TreasuriesToday: Yields higher by 1bp-2bp, mostly inside Monday's ranges, though 30Y touched highest level since early September (4.88%) & 2s10s topped 72bp, approaching last year's high. Coupon auctions resume Jan. 12 with 3Y new issue & 10Y reopening.

#TreasuriesToday: Yields lower by 1bp-4bp, led by bigger curve-flattening rally in UK bond market. 5Y-30Y reached lowest levels since Dec. 31. 2s10s back to 68bp after topping 72bp Tuesday, near its 2025 high. Coupon auctions resume Jan. 12 with 3Y new issue & 10Y reopening.

#TreasuriesToday: Yields higher (with oil prices) by less than 2bp inside yday's ranges. Next week's auction sizes at 11am: $58b 3Y new issue, $39b 10Y & $22b 30Y reopenings (2nd) projected. Buyback of up to $2b in 10Y-20Y sector closes at 2pm.

Fun for BBG subcribers: N "FED CHAIR" AND ("TRUMP" OR "TRUMP'S") HEADS BBG I think my favorite (from Aug. 27) is *BESSENT: 'SURELY' WILL KNOW TRUMP'S FED CHAIR PICK IN THE FALL

even better: N "FED" AND ("TRUMP" OR "TRUMP'S") HEADS BBG

#TreasuriesToday: Yields higher by 1bp-2bp after 2Y-5Y reached highest levels in two weeks. Before Dec jobs data, swaps price in a Fed rate cut by June, another by December. Ahead next week: $58b 3Y new issue & $39b 10Y reopening Mon, $22b 30Y reopening Tues.