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Non-Dealer Interest In 3 Year US Paper Plunges To January 2009 Levels
A few days ago, Bloomberg released an article in which it described the lamentations emanating from the Primary Dealers whose role in bond purchases is being increasingly undercut by Direct bidders who get to buy US paper directly from the Treasury and without Dealer intermediation. Well, no such worries in today's just concluded $32 billion auction of 3 Year paper, which closed moments ago at a high yield of 0.342%, the lowest "high yield" in 2013 and a Bid To Cover of 3.238, the lowest since September 2011. But what was most notable is that the combined take down of Directs and Indirects was a tiny 35.1%: the lowest non Dealer interest since January 2009. Naturally, the Dealer take down was the inverse or 64.9%, which also was the largest since January 2009. Obviously all this paper will be promptly sold back to the Fed, but any artificial (and inaccurate) concerns that Dealers are not getting their due allocation of paper can now be put to rest.
The question of why this cash-equivalent paper was not in big demand with the non-dealer community is applicable, but at this point no actual logical and fundamental questions matter. All one should know is to buy stocks because every central bank is now solely focused on sending the DJIA to 36,000 or bust.
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Fuck you Bernanke and ZIRP (NIRP in real terms.)
I predict new all-time highs on the Dow.
Ok, maybe a cheated and looked.
Man I wish I was a PD. What a sweet gig.
“getting their due allocation of paper”
.. Soma for the FRN zombie economy
The 3:30 ramp-ogasm is starting early today.
I would never buy any government "paper". Not that I understand treasuries or bonds that well anyway, but I view them for what they are: paper promises. Yeah, those are working well lately.
All fiat currencies are paper promises. When fraud is the status quo, possession is the law.
may i pay you tuesday, for a fur burger today?
NO PROBLEM!!!
just add average compound interest... and I'll start to foreclose on your house for that 1 dollar burger... just in case... you know... I trust ya... but... THIS IS MY CHANCE TO BUY YOU HOUSE FOR A DOLLAR AND MAKE YOU MY DEBTSLAVE FOR THE REST OF YOUR LIFE!!!
BON APPETIT MY FRIEND!
"All one should know is to buy stocks because every central bank is now solely focused on sending the DJIA to 36,000 or bust."
how fucking fraudulent will it look when the dow hits 20k, the ten year is 1% and Bernak is still going at 150 mil/mo and CNBC is running around with their party hats on while security is trying to beat back the zombie apocalypse outside the studio doors.
Well, Krugman voted for a contributor article 100 the title was "Dow to hit 20,000"
Bullisht.
You're traveling through another dimension, a dimension not only of sight and sound but of mind; a journey into a wondrous land whose boundaries are that of imagination - next stop, the Twilight Zone
dude... you have to pass that!! DON'T SMOKE IT ALL BY YOURSELF!!!
jeeezz...
Rod Serling copyright attorney line 1
so... the economy sucks...
money on the side is in bonds or going into bonds...
bonds don't find buyers...
jobs is dead and ain't comming back...
YEP!!! WHERE'S MY VACATION BROCHURES?!?!
TIME TO PLAN THAT VACATION AND SWITCH THE "I DON'T GIVE A FUCK BUTTON" ON!!!
YEP!!! WHERE'S MY VACATION BROCHURES?!?!
TIME TO PLAN THAT VACATION AND SWITCH THE "I DON'T GIVE A FUCK BUTTON" ON!!!
I did that last week and guess what...I came back to the same shit. I'm ready for another vacation.
Short one unit SPY 157.8 here and now.
I am shorting your comment
I wish Joe Klein would choke on his own fucking spittle.
http://www.prisonplanet.com/time-columnist-warning-others-about-governme...
Fuck that douche ... Who the fuck does Klein think he is
fucking shill on CNBC just went to commercial with the following...
"With the economy in recovery why is the US worker getting left behind....?
mother fucking bullshit abounds.....................
Of course it's recovering, just look at the bitcoin chart.
Yeah... our news is a bit more grimm...
but that's how it works over here...
the media spews it's guts and everybody blames the media for all that bad sentiment...
fuckers... and idiots... and me in the middle...
no, now its upbeat data from China???????
this fucking country is beyond fucked.................
let's sing cumbayaahhh together...
Europe... America... we're toast...
shit man... this is not how imagined to grow old....
Why would there be any demand ?
Those Yuan swap deals are killing it.Calling King ? of Saudi Arabia,Benanke is on the phone.
Just wait until those dollars start coming back home,
Hyperinflation, bitchez.
"Just wait until those dollars start coming back home," - Will it matter if they are not excepted by anyone? I think not. With respect to America, the interest alone is now around 500 billion. Where does all that "money" go? Sad that the only thing preventing hyperinflation right now is a fraudulent liquidity trap.
I look at the chart and I'm having a hard time justifying why this data looks any different than it has since 2010.