0614 GMT - Near-term supply at U.S. coupon auctions--those for notes and bonds--remains mostly constant, but uncertainty around tariffs and the Iran war clouds the medium-term outlook, Natixis's John Briggs says in a note. Previously, Natixis expected the U.S. Treasury to increase supply at coupon auctions at the November 2026 refunding, but it also believed that with tariff revenue assisting the deficit outlook, there was a strong probability Treasury could be able to wait until February 2027 before increases at those auctions, the U.S. rates strategist says. "Now, given the unknown new equilibrium on tariffs and thus revenue, and an unknown duration for the war with Iran, "the odds of being able to wait until February 2027 are falling." (emese.bartha@wsj.com)
(END) Dow Jones Newswires
March 24, 2026 02:14 ET (06:14 GMT)
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