he 10-year Treasury note appears to be a screaming buy both for investors and also for short-term traders.
Today, the dollar is strong against a basket of global currencies. There are no signs that China or any other country is abandoning the market for U.S. Treasuries or other federal government debt. It would be against the interest of China or any other country to dump U.S. dollar-denominated assets. China does not want to lose money or make its exports to the U.S. more expensive.
Another spurious explanation for weakness is the very large issuance of Treasuries as the U.S. Treasury Department rebuilds its balance sheet following the debt ceiling impasse.
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