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September 5, 2017 By Peter Boockvar

The hissy fit that is the one month bill


In light of the 35 bps increase in yield being paid by the US Treasury in today’s 1 month bill auction vs the one sold last week, I want to emphasize that this hissy fit in the market is more due to worries about the timing of being paid back rather than anything else. This gets to my point this morning that the debt limit debate is noise because it will be raised as it always has been. Thus, buyers of bills will get paid back 100%, the US government guarantees it. It is just the timing that has some worried as obligations have to be met by maturing paper that is paid back on time. Thus, the one month bill is a bargain as it can be had at a yield that is not much different than a 2 yr note.

Today’s one month bill was auctioned off at 1.32% vs the current 2 yr yield of 1.30%.

Filed Under: Latest Data

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About Peter

Peter is the Chief Investment Officer at Bleakley Advisory Group and is a CNBC contributor. Each day The Boock Report provides summaries and commentary on the macro data and news that matter, with analysis of what it all means and how it fits together.

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Disclaimer - Peter Boockvar is an independent economist and market strategist. The Boock Report is independently produced by Peter Boockvar. Peter Boockvar is also the Chief Investment Officer of Bleakley Financial Group, LLC a Registered Investment Adviser. The Boock Report and Bleakley Financial Group, LLC are separate entities. Content contained in The Boock Report newsletters should not be construed as investment advice offered by Bleakley Financial Group, LLC or Peter Boockvar. This market commentary is for informational purposes only and is not meant to constitute a recommendation of any particular investment, security, portfolio of securities, transaction or investment strategy. The views expressed in this commentary should not be taken as advice to buy, sell or hold any security. To the extent any of the content published as part of this commentary may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. No chart, graph, or other figure provided should be used to determine which securities to buy or sell. Consult your advisor about what is best for you.

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