3 things investors need to know from last week!
Treasury Bill Yields Rise With Debt Deal Elusive:?Investors are demanding a higher premium for US debt most at risk of default after yet another round of talks on the borrowing limit ended without a deal. Yields on four-week Treasury bills climbed 7 basis points on Tuesday, bringing their rise since the beginning of May to more than 60 basis points. The two-year Treasury yield increased 4 basis points, while the 10-year yield was flat.
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Source: Yahoo Finance
?The Treasury Department could issue $700 billion in T-bills within weeks of a debt-ceiling deal, draining liquidity from markets:?The Treasury Department will issue $600 billion-$700 billion in T-bills weeks after lawmakers agree to lift the debt ceiling, Goldman Sachs estimated.?President Joe Biden and Republicans in Congress have yet to reach a deal, but Treasury Secretary Janet Yellen reiterated her warning that the government will run out of money as soon as June 1.
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Source: WSJ
?Slow Return to Work Pummels Office Stocks:?Vornado's share price is down more than 30% so far this year, while the broader stock market is up.?Share prices for some of the largest office landlords have dropped to near-historic lows, reflecting a sluggish return-to-office rate and a rise in the number of investors betting that these stocks will keep falling.
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Source: WSJ
Have a great week ahead!
Cofounders, Plootus