A Beat, a Raise, and Yet Walmart's Worst Day in Four Years
@Marktomarket：
Hello. The Treasury's buyback tool was upsized again, and the bond market bought it for half a day. US Treasury Secretary Bessent said on Thursday that the size of each long-dated Treasury buyback had gone from US$2 billion to at least US$4 billion, and could rise further. The 30-year yield fell as much as 10 basis points and the dollar index weakened — and then the bond market pushed back. The reason is simple enough: buybacks deal with liquidity, while the deficit, inflation and the term premium have not moved at all. There was a new variable that day: the consumer. $S&P 500(.SPX)$ closed down 0.87 per cent and $Dow Jones(.DJI)$ 1.32 per cent, about 600 points — Barro