In a quiet day for stocks, which are now trading near session lows, which in turn is prompting a bid for safety, the Treasury complex was already trading at the best levels of the day ahead of today's Treasury auction. Then just after 1pm, the stellar results from today's 20Y auction (technically a 19 Year 11-month reopening of cusip UV8), confirmed the solid demand for US paper.
Today's sale of $13BN in 20Y paper was solid from top to bottom. The auction priced at a high yield of 4.927%, down from 5.122% last month; it also stopped through the 4.937% When Issued by 0.1bps. This means we have had 4 auctions without a tailing 20Y auction yet.
The bid to cover was likewise impressive, rising to 2.75 from 2.55, the highest since March and above the recent average of 2.648.
The internals were even better: indirects were awarded 71.6%, a big jump from 67.7% last month and the highest since July 2024. And with Directs awarded 19.9% (below the six-auction average of 24.3%), Dealers were left holding just 8.5%, one of the lowest on record.
Overall, this was a very strong auction, which was notable since there was virtually no concessions in today's strong secondary market. It also indicated that there are few jitters that Kevin Warsh may drop a hawkish surprise during tomorrow's FOMC meeting.
Tyler Durden Tue, 06/16/2026 - 13:47Qatar shut the world's largest LNG facility early in the U.S.-Iran war after Iranian Shahed one-way attack drones struck critical energy infrastructure, triggering chaos across global gas markets, just as the Hormuz maritime chokepoint was shuttered.
Now, with a U.S.-Iran peace deal set to formally reopen the waterway by Friday, there is encouraging news on the supply side: According to Bloomberg News, Qatar is preparing to rapidly restart LNG production, a move that could help ease the global supply crunch and accelerate the normalization of energy flows.
Sources tell the outlet that QatarEnergy has been preparing for a fast restart since April by testing equipment, performing maintenance and keeping some production trains running at reduced levels. The restart timeline now stands at 50% capacity within one month and about 80% within two months - well ahead of earlier timelines.
A full recovery of QatarEnergy's Ras Laffan complex, which exported almost 20% of global supply last year, could take years after parts of the facility were damaged by Iranian drones and missiles in the first few weeks of the conflict in March. The return of Qatari LNG would help ease a global supply crunch; however, commodity analyst Jack Prandelli pointed out on X:
Here's what those headlines will miss:
🚨Qatar just told its LNG buyers what the restart looks like.
50% capacity within 1 month of Hormuz reopening.
80% within 2 months.
That's the good news.
Markets will rally on this.
Headlines will say "LNG crisis ending."
Here's what those headlines will miss:
80% is not… pic.twitter.com/mseV2fjYz3
Related:
The return of Qatari LNG is a promising sign for easing the physical supply crunch in energy markets. But with normalization in supplies expected to take years, U.S. LNG exports have plugged the supply gap by maximizing liquefaction capacity and tightening vessel loading schedules in recent months.
Tyler Durden Tue, 06/16/2026 - 13:20Authored by Emel Akan via The Epoch Times,
U.S. President Donald Trump kicked off his G7 summit meetings on June 16 in the French spa town of Evian-les-Bains, joining a roundtable discussion with Ukrainian President Volodymyr Zelenskyy and other G7 leaders.
(L-R) U.S. President Donald Trump, French President Emmanuel Macron, and Ukrainian President Volodymyr Zelenskyy take part in a working session at the G7 summit in Evian-les-Bains, France, on June 16, 2026. Thibault Camus / POOL / AFP"We had a very good meeting," Trump told reporters after the meeting. "Russia should make a deal. Russia has lost tremendous amounts of people and so has Ukraine."
Before the roundtable, Trump confirmed he also had a private discussion with Zelenskyy.
"I'm meeting with him again later on today," he added.
Trump made these comments during his bilateral meeting with the Emir of Qatar, Sheikh Tamim bin Hamad al-Thani, on the sidelines of the G7 summit.
"I'm going to do whatever I can," Trump said, to end the war in Ukraine.
Trump said he wants to focus on Ukraine now, saying Iran will soon be "back in the rearview mirror."
Leaders of the world's seven largest advanced economies have gathered in Evian-les-Bains, a lakeside town in eastern France, from June 15 to June 17 for their annual summit.
European Commission President Ursula von der Leyen said Ukraine is stronger now than it was at last year's G7 summit in Canada.
"Ukraine is in a different position," von der Leyen said at a press conference in Evian on June 15. "Ukraine is holding the frontline and even partially regaining territory."
She also praised the speed at which Ukraine was becoming a top producer of advanced military equipment.
"On the other hand, Russia is feeling the strain and pressure. Our sanctions are biting and cutting deep," she added.
In August 2025, Trump invited Putin to a meeting in Alaska to discuss a peace deal between Russia and Ukraine. However, the meeting ended with no breakthrough.
Before heading to France, Trump said he had spoken separately with both Putin and Zelenskyy on the phone on June 15.
"We had a very good conversation yesterday with President Zelenskiy and President Putin, and I think maybe we can do something there," he said following his bilateral meeting with Macron on June 15. "I really do. I think they're both open to it."
He said that now the Iran deal is finalized, "we're going to be focusing on that."
On June 15, Ukraine officially began European Union membership negotiations, launching a process that will require its government to commit to years of political reforms even as it fights the Russian invasion.
Ukraine sees EU membership as a security guarantee for a stable future once the war ends.
The Associated Press contributed to this report.
Tyler Durden Tue, 06/16/2026 - 13:00