Lionel Kerrigan
Lionel Kerrigan writes for Curvo Journal and other Independent Journal publications, covering the Federal Reserve and central banks and economic data and Treasury markets. Reporting under this byline is prepared by the Independent Journal editorial desk from primary sources, with AI assistance, and reviewed under our editorial policy.
13 articles
Soft Korean CPI and a $628B Forecast Test the Bond Market
South Korean inflation came in below forecasts for October just as Wall Street weighs a $628 billion Treasury borrowing estimate and Bessent's next moves.
Brazil's $1.8 Trillion Debt Puts Bond Market Focus on Interest
Brazil's debt has reached $1.8 trillion as interest costs surge, according to Investing.com. What the milestone means for the bond market and what to watch next.
Midterm Stakes Meet Treasury Yields as Bond Market Waits
With the midterms days away, the bond market is weighing how election outcomes could shape fiscal policy, Treasury yields and the curve, as France and the 2-year draw attention.
Treasury auction: $95 billion 13-week bill sale in focus
The Treasury sold a $95 billion 13-week bill Monday. Here is how the Treasury auction fits the bond market, short-term yields and a soft housing backdrop.
Diesel Surge Feeds Inflation Worries Weighing on 10-Year Treasury
Diesel's climb is starting to push other prices higher, and bond analysts say inflation worries have the 10-year Treasury yield stretched above fair value.
10-Year Treasury Yield Holds at 5.24% Ahead of September CPI
The 10-year Treasury yield closed Friday at 5.24% and the 2s10s spread narrowed to 44 basis points, with September CPI due Wednesday at 8:30 a.m. Eastern.
Consumer Sentiment Falls to 46.3 as Inflation Worries Hit Bonds
Michigan's October sentiment index fell to 46.3 and long-run inflation expectations rose to 3.5%, a reading that bears on Treasury yields and the Fed's next move.
Treasury Auction: $39 Billion 10-Year Sale With Yields Above 5%
Treasury sells $39 billion of 10-year notes Wednesday with the 10-year yield above 5% and the Fed set to release its September minutes. What to watch.
How Treasury Auctions Work: Bids, Pricing and Results
How Treasury auctions work: how the government sells bills, notes and bonds, how competitive and noncompetitive bids differ, and how to read auction results.
Fed Dot Plot Sees 4.1% Rates Through 2027, Testing the Yield Curve
The Fed's September projections lift the median policy rate to 4.1% for 2026 and 2027, from 3.8% and 3.6% in June, with consequences for the yield curve.
How the Treasury Yield Curve Works: A Plain-English Guide
How the Treasury yield curve works: what it plots, how Treasury builds the par yield curve from market prices, and how to read its shape, slope and spreads.
Treasury Auction Guidance Unchanged at August 2026 Refunding
Treasury's Aug. 5, 2026 refunding set $125 billion of 3-, 10- and 30-year auctions, raising about $28.7 billion in new cash and keeping coupon sizes steady.
Treasury Auction Sizes Held Steady in May 2026 Refunding
Treasury's May 6, 2026 refunding set $125 billion of 3-, 10- and 30-year auctions, kept coupon sizes unchanged and projected $671 billion of Q3 borrowing.