The Bond Buyer’s weekly yield indexes increased this week, driven by two considerably softer sessions.
“There’s a gross imbalance between supply and demand — there is no demand,” said Fred Yosca, head of trading at Bank of New York Mellon. “Tuesday and Wednesday were disastrous. Retail investor demand has run for the hills. With lack of buyer interest, and a good run of supply coming until the holiday, it’s going to be very hard to hold yield levels in here.”