After two very "eventful" quarterly refunding announcements by the Treasury, the first of which sent yields soaring to decade highs, when the Treasury forecast higher than expected coupon issuance in July, followed by a mirror image in October, when the Treasury surprised with slightly lower coupon issuance (offset by a surge in Bill issuance)...
... moments ago the Treasury published the first part of this week's closely watched Quarterly Refunding Announcement, when at 3pm ET it released the estimates borrowing estimates (and overall sources and uses of Treasury debt and cash) for calendar Q1 and Q2, both of which came in well below estimates.
