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$13 Billion 30 Year Auction Closes At 4.515%, 2.67 Bid To Cover

Tyler Durden's picture




 

Today's $13 billion 30 year auction has priced on slightly worse terms than the last 30 year from December: the Bid To Cover came at 2.67, a decline from the prior 2.74, while the high yield printed at 4.515% (40.45% allotted at high), the highest since April 2010, compared to 4.41% in the last auction. The take down distribution was not notable, and unlike yesterday's 10 Year which saw that lowest PD take down on record, Primary Dealers bought just about half of the auction, or 49.9%, with 37.8% left for the Indirects, and 12.4% for the Directs. We are confident that just like all other recent auctions, the PDs will projctile vomit as much of this auction as they possibly can at the first opportunity, which incidentally is on January 20. Lastly, the bond priced wide of the When Issued, confirming that it could certainly have gone better.

 

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Thu, 01/13/2011 - 14:24 | 873550 pton09
pton09's picture

Why was the auction relatively small?

 

Thu, 01/13/2011 - 14:34 | 873584 metaforge
metaforge's picture

mmmm..... Nom nom nom!  Debt makes the world go round!  

Thu, 01/13/2011 - 15:00 | 873659 Misean
Misean's picture

If you stare at that graph long enough you can see Bernutty grimacing...

If you look at a sheet of white paper afterwards you'll see God!

Or perhaps I'm having a flashback...difficult to tell these days.

Thu, 01/13/2011 - 16:57 | 874215 youngman
youngman's picture

SUCCESSFUL..SUCCESSFUL SUCCESSFUL....I only heard it 50 times this week..all is good

Thu, 01/13/2011 - 19:52 | 874810 youngman
youngman's picture

Only 4 comments..I think we all know here of this board that this is crap....so why bother even reading about it..or even commenting on it...they are going to sell all that is offered as long as they print the dollars.....nothing we say can or will stop it....

Fri, 01/14/2011 - 22:34 | 878164 RobotTrader
RobotTrader's picture

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