20-year Treasury bond shortage exposed by surging failed trades, NY Fed data show (US20Y:null)


Andrii Dodonov/iStock via Getty Images
A spike in failed trades points to yet another bout of scarcity in the 20-year Treasury bond (US20Y), as demand for the tenor in the repo market continued to far outpace supply.
For context, the repo (repurchase agreement) market involves financial institutions borrowing