JPMorgan: The $39 billion 10-year US Treasury auction may require a larger price concession

JPMorgan strategists stated in a report that the US Treasury's $39 billion 10-year bond auction on Wednesday may require a price concession to be smoothly absorbed. They said: "Given the weakening support from both fundamentals and relative valuation, we believe that Wednesday's auction may need to offer a greater price concession in order to be smoothly absorbed." According to Tradeweb data, during the Asian session, the yield on the 10-year US Treasury bond fell by 1.2 basis points to 4.790%.