What a fiasco

The US Treasury announced it will postpone the Tues, Oct 27 scheduled sale of 2-year notes because of the debt limit.

They say they're worried they won't be able to settle it on Nov 2.

They also considered postponing the 5 or 7-year note sales scheduled for next week but determined that would be more disruptive to the market.

US two-year yields immediately fell 3 bps on the headlines to 0.6080%.