2027 global economy: risks of slowdown, recession, but not Great Depression
Global economy faces 2027 risks: AI correction, oil above $117, China weakness, but 2008-style collapse not yet signaled.
The Treasury sold 10-year notes at 4.834%, a stop through of 1.5 bps, and saw a bid-to-cover of 2.71.
As the sale was a reopening, the securities mature in 9 years and 11 months.
The 1.5 basis point stop through—the largest since April 2025—should ease some of the concern over Bessent's buyback.
Nonetheless, the Treasury's cost of borrowing for 10-year debt is still the highest it has been since 2007.
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Global economy faces 2027 risks: AI correction, oil above $117, China weakness, but 2008-style collapse not yet signaled.
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