The bid-to-cover ratio was 2.26 and probably the main driver of the higher yields. Investors can’t seem to flee Treasuries fast enough, especially now that Fed Chairman Ben Bernanke has had a chance to clear up that little misunderstanding about when the Fed would begin to taper its asset purchases. Stocks are the purchase du jour today.
Over the last six sales of 30-year bonds the bid-to-cover ratio was 2.57, so that indicates just how ugly today’s auction was. Indirect bidders, a group that includes foreign central banks, took 40.2% of the offering, up from an average of 38.7% in recent sales. Direct bidders took 16.3% against an average at recent sales of 13.2%.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
