April 14, 2025 (NO COMMENTS)

US Treasury dealers were close to hitting the panic button on the morning of Wednesday, April 9.

A poorly received three-year note auction the previous day had raised serious questions about whether US Treasuries could provide a safe haven from the potential fallout of an escalating global trade war. Investors began dumping Treasuries at a rate that threatened to overwhelm dealer capacity. The big concern was that if a crucial 10-year note auction that afternoon went badly, it could send the