On Monday, data showing that the consumer price index grew at a 4.2 percent annual rate — the fastest in more than a decade — increased inflation fears, spurring broad market sell-offs. Dip buyers returned to the market on Thursday and Friday, as the Centers for Disease Control and Prevention said that fully vaccinated Americans no longer needed to wear masks indoors.
“The pullback earlier this week was an opportunity for long-term investors to get into some great positions,” said Nick Licouris, an investment adviser at Gerber Kawasaki. “This is completely healthy for the overall market to see these pullbacks to readjust and digest new data coming out.”
The Treasury will sell 13-week and 26-week bills on Monday and four-week and eight-week bills on Thursday.