Banking, finance, and taxes
Record Low 7-Year Treasury Note Yield At $29 Billion Auction
Published:
Last Updated:
Yesterday brought on a near-record low yield for a 5-Year Treasury Notes auction. A 7-Year Treasury Note auction today managed to put in a record-low on the yield at a 7-Year auction. The $29 billion auction went of at only 1.347% and that is more than one basis point lower than the prior record if our figures are accurate in the third place in decimals. Today’s bid to cover was above average at 2.83. Indirect bids were 38.2% and the direct bids were up at 17.6%.
Ben Bernanke has pledged over and over that unless something changes he intends to keep the rates ‘exceptionally low’ through the end of 2014. There have been many interpretations of what that means, but yesterday Bernanke in his press conference indicated that exceptionally low means close to today’s rates.
Maybe investors are trusting that Bernanke means his 2014 timeline, or maybe they are just still seeking safety over risk. With all of the deficits and with all of the political shenanigans it is amazing just how little borrowers demand from the United States.
JON C. OGG
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
