This page has been archived and commenting is disabled.

$29 Billion 7 Year Auction Closes At Record BTC, Stop Out Rises To 1.97%

Tyler Durden's picture





 

Today's $29 billion 7 year auction closed at a high yield of 1.97%, which following suit recent 2 and 5 Year auctions was an increase in the stop out yield. Still, it was the second lowest recorded since the reintroduction of the 7 Year in February 2009. More interestingly, the Bid To Cover came at a record high of 3.06 compared to 3.04 previously and 2.84 average in the prior year. This means the belly of the Treasury curve continues to be very well bid, although with the majority benefit of the Primary Dealers. PDs took down 50.22% of the auction (compared to a 50.34% average), leaving 10.9% to directs, and 38.88% for Indirects. This was an increase in the Indirect take down from 36.4% previously, and ends the decline in Indirect bids seen previously in the 2 and 5 year, confirming that even foreigners continue to seek yield above all. Bottom line: with QE2 around the corner, there is no shortage of demand for paper.

 

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 10/28/2010 - 13:17 | Link to Comment SheepDog-One
SheepDog-One's picture

Well nice we can have daily $30 billion money laundering auctions to prop the destroyed equity markets.

Thu, 10/28/2010 - 13:20 | Link to Comment ZeroPower
ZeroPower's picture

Wow, those PDs sure know how to bid.

Thu, 10/28/2010 - 13:38 | Link to Comment plocequ1
plocequ1's picture

Good!! What does it matter any more? Market is going higher. Mission complete. This is Bullshit!!

Max Schumacker quote: "All of a sudden it's closer to the end than the beginning, and death is suddenly a perceptible thing to me, with definable features."

Thu, 10/28/2010 - 13:42 | Link to Comment LongSoupLine
LongSoupLine's picture

The circle jerk at the expense of the middle class continues.

Thu, 10/28/2010 - 14:12 | Link to Comment frank
frank's picture

record bid-to-cover as most expect the fed to buyback more of the belly. what a joke.

Wed, 11/03/2010 - 21:18 | Link to Comment cheap uggs for sale
cheap uggs for sale's picture

We have all cheap uggs for sale in our website http://www.salesuggs.org ! You can meet all your needs for UGG hot sale here and will certainly be satisfied with the top quality at low price. All UGGs on sale are made with the 100% genuine sheepskin from Australia and are hand-made in our own factory completely. So you need no to worry about the quality and the cheap UGGs for sale are all to be delivered in free shipping. Enjoy the large discount!
1.
UGG Amberlee
|UGG Kensington
|UGG Elsey
|UGG Langley
|UGG Roxy Short
|UGG Roseberry
|UGG Oliviya
|UGG Raya
UGG Brookfield Short

Thu, 11/04/2010 - 02:27 | Link to Comment cheap uggs for sale
cheap uggs for sale's picture
Many like to prefer this footwear for cheap uggs on sale. its stylish and comfort aspects that charms as well as eases your feet with utmost convenience. Earlier, people use to wear cheap uggs bootsto keep their feet warm in cold weather but now in modern time people prefer them to gain a great appearance.UGGS on sale.Such as:UGG Adirondack|UGG Bailey Button Triplet|UGG Brookfield|UGG Cardy|UGG Delaine|UGG Elsey|UGG Gissella|UGG Highkoo|UGG Kensington|UGG Knightsbridge|UGG Langley|UGG Mayfaire|UGG Roseberry|UGG Roxy|UGG Upside| UGG Amberlee| UGG Oliviya| UGG Gaviota|UGG Desoto|UGG Bailey Button |UGG Brookfield short|UGG Swell .
Tue, 11/09/2010 - 04:17 | Link to Comment shaoye
shaoye's picture

Find ugg and Australian sheepskinAuthentic Ugg boots, learn the history behind the Cheap ugg boots, and when and what to wear with Ugg boot, as well as cleaning and caring for ....we sell new style Ugg boots on sale,You can find the wholesale discount Ugg boots here.

Tue, 11/09/2010 - 04:21 | Link to Comment shaoye
shaoye's picture

Find ugg and Australian sheepskinAuthentic Ugg boots, learn the history behind the Cheap ugg boots, and when and what to wear with Ugg boot, as well as cleaning and caring for ....we sell new style Ugg boots on sale,You can find the wholesale discount Ugg boots here.

Fri, 11/12/2010 - 21:47 | Link to Comment shaoye
shaoye's picture

TheseWholesale promotional products are listed below. The t shirt wholesale is that we want World of Warcraft to be a fun and safe environment for all white cotton t shirt. World of Warcraft is an MMORPG, and the Baseball cap suppliesare "Massively Multiplayer". In playing this game, you will encounter thousands of other Non-woven bag Wholesale who share different experiences and come from vastly differentpromotional gifts.

Thu, 12/09/2010 - 10:08 | Link to Comment senthil456
senthil456's picture

I love zerohedge policy.
windows vps
cheap hosting
forex vps

Do NOT follow this link or you will be banned from the site!