Is The Treasury Oversupply Panic Over?

While editorializing around what counted as the largest two-session selloff for benchmark US Treasurys since June of 2022 (i.e., since the Fed upsized rate hikes to 75bps), I suggested that some of the Friday-Monday cheapening might've been an early concession ahead of this week's supply events. Although a blowout jobs report, a re-acceleration in ISM services and additional Fed pushback against market speculation for imminent rate cuts was the proximate cause of the mini-rout, it was difficult