compost maven on Instagram: "Vacation = shelving my low-carb aspirations when warranted, as in the case of this beauty from @bread41bakery. At 2pm, an hour before closing time, it was one of the only ... 3 likes, 0 comments - compostmaven on April 17, 2026: "Vacation = shelving my low-carb aspirations when warranted, as in the case of this beauty from @bread41bakery. At 2pm, an hour before closing tim...

www.instagram.com/p/DXOdfkMgZJ...

www.instagram.com/p/DXK8yffDpR...

From my alter-ego this week

#TreasuriesToday will return April 27, rested and ready. Peace

#TreasuriesToday: Yields higher by 1b-2bp with WTI oil rebounding from Tuesday's 7.9% slide to lowest close since March 25. $119b coupon settlement ($48b net). Buyback of up to $2b in 10Y-20Y sector closes at 2pm. Coupon auctions resume with 20Y reopening (2nd) on April 22.

#TreasuriesToday: Yields little changed inside past week's ranges (2Y 3.77%, 10Y 4.29%) with oil benchmarks lower (WTI crude futures -1.8% near $97 vs week-ago multiyear high close near $113). Coupon auctions resume with 20Y reopening (2nd) on April 22.

#TreasuriesToday: Yields higher by 2bp-3bp, off session highs & inside last week's ranges, with oil benchmarks up more than 7% & stock futures red. Goldman Sachs is 1st of 10 S&P 500 banks to report results Mon-Weds. Coupon auctions resume with 20Y on April 22.

From my alter-ego today:

www.instagram.com/p/DW_fv0IDof...

#TreasuriesToday: Yields higher by 1bp-2bp, trailing steeper increases in most European bond markets, with oil prices stable (US benchmark WTI crude $98 vs multiyear high close near $113 Tues). 30Y 4.90% vs yday's 4.876% auction yield. Coupon auctions resume with 20Y on April 22.

#TreasuriesToday: Yields lower by less than 2bp with oil retracing about a quarter of yesterday's steep drop. $22b 30Y reopening (2nd) at 1pm is last coupon auction until April 22. WI yield near 4.88% > 30Y results since July. Buyback of up to $2b in 20Y-30Y sector closes at 2pm.

#TreasuriesToday: Yields lower by 3bp-7bp with oil benchmarks down more than 15%. New 3Y 3.75% vs Tuesday's 3.897% auction result. $39b 10Y reopening (2nd) at 1pm has WI yield near 4.24% (vs 4.38% peak yday), still higher than 10Y auction results since August.

#TreasuriesToday: Yields narrowly mixed in small daily ranges (for 10Y, less than 4bp) with oil prices rising (US benchmark WTI crude around $115). 3Y new-issue auction at 1pm has WI yield near 3.88%, higher than monthly results for the tenor since July.

#TreasuriesToday: Yields higher as much as 3bp (2Y), near high end of Friday's selloff ranges, despite lower oil prices. Auctions ahead this week: $58b 3Y new issue Tues, $39b 10Y & $22b 30Y reopenings (2nd) Weds & Thurs respectively.

Instagram Create an account or log in to Instagram - Share what you're into with the people who get you.

From my alter-ego this week:

www.instagram.com/p/DWphLjhjvH...

#TreasuriesToday: Yields higher by 1bp-2bp in holiday-shortened US session to accommodate March jobs report (US stocks & other financial markets including oil closed globally). Interest-rate futures price in a single Fed rate cut in 2027 & sub-20% chance of one this year.

BONUS for perseverance! That year, @mikemunis.bsky.social and I were working The Bond Buyer & he was writing the daily muni market column. He got some poor terrified kid on the phone who said he'd been left in charge of a trading desk with the instruction, "not to screw it up."

So the next time the stars aligned in 1996 (and every time since), PSA recommended a 12pm close for bonds on Good Friday, April 5 for the March jobs report. The 140k increase in payrolls turned out to be nearly three times the 49k forecast, unleashing another big selloff. /END

The March jobs report had come out on Good Friday in April 1994, and it was a bloodbath as the 456k increase in payrolls was nearly double the 238k forecast. But futures were open for an abbreviated session, and many large dealers had staffed their cash desks anyway. 5/6

Until 1996, the industry association for the de-centralized US bond market (formerly PSA, then BMA, now SIFMA) recommended a full market close on Good Friday, even if it coincided with the jobs report. 4/6

Because the government is open, the Labor Department will release the March employment report at 8:30am tomorrow on schedule (the 3d Fri after the week that includes the 12th of the month, usually but not always the 1st Fri of the month). 3/6

Good Friday (the Fri before the 1st Sun after the 1st full moon after the vernal equinox, in the March 20-April 23 zone) has been an NYSE holiday all but three years since 1864 & is the only stock-market holiday that's not also a federal holiday. 2/6

Want to know why the bond market is open for an shortened session tomorrow (Friday) while the stock market is closed? It's happening for the first time since 2023 (with previous occurrences in 2021, 2015, 2012, 2010, 2007, 1999). 1/6

*CME rate futures have 11:15am (NY) close, settlement 11am
*Bloomberg Indices to stop collecting px at noon & mark USD bond indexes at 1pm

#TreasuriesToday: Yields higher by 4bp-5bp with US benchmark WTI crude up 9% near $109, above closing levels since 2022. Ahead Friday (an NYSE holiday), SIFMA recommended trading until 12pm to accommodate March jobs report. Additional early-close times ⬇

#TreasuriesToday: Yields lower by 2bp-4bp near lowest levels in more than a week as oil extends retreat from Monday's multiyear highs. March index return -1.7%, biggest loss in more than a year, wiping out YTD gain. Buyback of up to $15b in 1M-2Y sector closes at 2pm.

#TreasuriesToday: Yields lower by 2bp-4bp, again despite higher oil prices (WTI crude contract topped $106 after closing above $100 for 1st time since 2022). $215b coupon settlement ($79.6b net). Month-end index rebalance at 4pm to extend duration by estimated 0.06 year.

#TreasuriesToday: Yields lower by 4bp-6bp despite higher oil prices, extending theme that emerged Friday after benchmark tenors reached highest levels since mid-2025 (for 30Y, 4.997%). Tomorrow's month-end index rebalancing to extend duration by estimated 0.06 year.

#TreasuriesToday: Yields higher (with oil) by 1bp-5bp, off session peaks including highest 2Y-10Y since mid-2025. 30Y reached 4.98%, near YTD high. April options expire. Auctions resume April 7. Tuesday's month-end index rebalancing to extend duration by estimated 0.06 year.

#TreasuriesToday: Yields higher by 4bp-6bp, new 5Y 4.04% vs Wednesday's 3.980% auction stop (1.4bp tail). $44b 7Y auction at 1pm (last until April 7) has WI yield near 4.22%, higher than results since March 2025. Buyback of up to $2b in 10Y-20Y sector closes at 2pm.

#TreasuriesToday: Yields lower by 3bp-5bp inside this week's ranges with oil down ~6%. New 2Y 3.86% vs Tuesday's 3.936% auction result (1.8bp tail). $70b 5Y at 1pm has WI yield near 3.965%, above results since July. Buyback of up to $500m of 10Y-30Y TIPS closes at 2pm.