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$38 Billion 3 Year Auction Results
- Yield 1.487% vs. Exp. 1.50%
- Bid To Cover 3.02 vs. Avg. 2.68 (Prev. 2.89)
- Indicrects 54.2% vs. Avg. 47.31% (Prev. 62.67%)
- Allotted at high 54.60% (BBG)
- 1.52 Bid-to-cover on indirects accepted to tendered
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Any relation to the Dollar tanking?
TSY's sold - rates lower, stocks up, (for now) gold up, I'm getting a headache, my vision is blurred - up is down, black is white - cats and dogs living in harmony...
Notice the 30-year T has gained back all of its day's gap down as of 118pm EDT. The $ should melt up this pm till the daily equities ramp at 3:30.
Virtually an insatiable appetite for AAA-rated, "gilt-edged" U.S. bonds.
Amazing how investors continue to lap these up, willing to accept a paltry 3.4% return for the next 10 years.
I am not so sure that it isn't the taxpayers lapping them up.
Investors aren't lapping them up, the Fed is through their various proxies. Hell, I waiting for the day when the Fed calls little ole me and asks me to front for them. :>)
+1
That is an ugly indirect bid to cover. Three years is too long for their tastes...
The PD's have a risk appetite and wanted to be paid for it. Ben took the diet salad away for himself.