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$41 Billion 5 Year Auction Closes At 2.39% High Yield, 2.81% Allotted At High
- Yields 2.388% vs. Exp. 2.381%
- Bid-To-Cover 2.63 vs. Avg. 2.35 (Prev. 2.4)
- Indirects 54.8% vs. Avg. 48.97% (Prev. 44.72%)
- Indirect Bid-To-Cover 1.29
- Allotted at high 2.81%
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But, but, where are the god-damned bond vigilantes? HAHAHAHAHA!!!
gOLDEN SUCKs dive into hell mofos!
I would have to say this turned out "better than expected".
CIT gets financing.....
Not that it has anything to do with the topic at hand but...
CIT just secured 4.5B in financing... pushing off the inevitable just a little longer...
CIT, arguably the LEAST un-dead of all the zombies is able to secure $4.5 billion in financing.
And to think there are people out there who marvel that anyone is still willing to lend money to Uncle Stupid.
Icahn will do an orderly wind down of operations and pick the ripe parts for himself.
This beats a chapter 11 filing, followed by liquidation.
They are dead either way, this just gives Icahn a chance to save some face and make some money.
Icahn was not part of the investor group. Mostly existing bondholders throwing good money after bad. Unbelievable!
Not that it has anything to do with the auction, but the five UN workers killed in Kubal should get the Nobel peace price not Obama. Also the SPY "gap" is being filled at 104.5 and may be another bottom indicator.
is it just me or did anyone else notice that the pattern of PD's putting in uncompetitive bids for size and indirects getting filled almost 100% keeps repeating?