$21 Billion 10 Year Reopening Closes At 3.754%, Indirect Bidder Take Down Scarce At 29%, Vs 43% For Last Eight Auctions

Tyler Durden's picture
  • Yields 3.754% vs. Exp. 3.763%
  • Bid To Cover 3.00 vs. Avg. 2.86 (Prev. 2.62)
  • Indirects take down 29.0% vs. Avg. 43.05% (Prev. 34.76%)
  • Indirect Bid To Cover 1.89
  • Alloted at high 49.95%
  • Direct bid take down surges again to 17%from 8.9%

A chart of today's intraday weakness in the 10 year as a mysterious ES bidder guns the equity market.

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Anonymous's picture

A mysterious ES bidder? Please, for accuracy's sake let us agree to use the word clandestine, rather than mysterious.


JackTheOffer's picture

No, don't change the terms.  I LOVE a mystery!

However, I hate a clandestinity.

Zexe's picture

ben bids for equities, bonds and mortgages. the entire ponzi system is on life-support mode. how much will the fed balance sheet bloat this year? do they have a limit to all this? can these lies go on forever?

Hero Protagonist's picture

can these lies go on forever?

Of course they can. Fiat currency that everyone on the planet demoninates in + Issuer backstopping everything...who exactly with the muscle (e.g. Major CBs, Major Governments, TBTFB) is going to say the emperor has no clothes?  Answer --> None.

lsbumblebee's picture

Mr. Bernanke you forgot your change!

Gordon_Gekko's picture

Looks like the "indirects" have handed the baton to "households" - LOL!

deadhead's picture

Good, very, very good GG!

cocoablini's picture

Yep, GG, household is a catch all for misc. Households in the Principality of Dark Pool. As TD pointed out, 91% of new debt is purchased by the Fed. Aftermarket, overnight, smuggled in when we are asleep.

crosey's picture

Wassamatta...nobody want our IOU?

Doji's picture

Here is that curious volume on the ES...



If that is an opening position figure 240,000 contracts at member rates over night is $1,080,000,000.00  That is a hefty initial margin.


Have to take a look at open interest data after settlement to see exactly what happened.

johngaltfla's picture

I nominate AIG/Citi/Turbo Timmy as the mysterious buyer.

After all, it's our tax dollars so why should they care what they buy?

Anonymous's picture

I am wondering when the day will come that reading will be banned. Keeping the serfs illiterate made them easier to manage.

No more reading, 'riting and 'rithmetic. Just shut up and swing your scythe to keep the lawns nice and neat for the masters at goshdarn sucks.

Anonymous's picture

No more reading, 'riting and 'rithmetic for the serfs.

Shut your mouth, put your head down, and swing that scythe to keep the lawns nice and neat for the master from goshdarn sucks.

strike for return to reality's picture

There are reasons why 'riting, reading and 'rithmetic aren't allowed among the serfs.

I think it has something to do with the need to make sure that we shut up, put our heads down, and swing that scythe carefully as we trim the lawn for the master from goshdarn sucks.