Bulging sales of US Treasuries are about to deliver a major test of investor demand and determine whether a selloff has room to run
deliver a major test of investor demand
and determine whether a selloff has room to run as the market braces for the biggest round of refunding auctions since last year. Yields have surged since late July, and climbed again Monday, amid evidence of a resilient US economy, and after the Treasury shocked traders last week when it signaled greater borrowing needs. A rising US budget deficit and a poor fiscal outlook at a time of near full employment contributed to the move by Fitch Ratings to strip the US of its
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