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http://www.bloomberg.com/apps/news?pid=20601087&sid=afsQk.qqG7Ag&pos=6
By Susanne Walker
Nov. 30 (Bloomberg) -- Less than a week after deflecting calls for his resignation, Timothy Geithner sold bonds on behalf of U.S. taxpayers at the lowest yields on record in a show of confidence in the Treasury Secretary’s policies.
Even as the nation’s debt increased by $1.15 trillion this year to $6.95 trillion in October, the government’s interest expense under Geithner dropped 15 percent, the biggest decrease since before 1989, according to data compiled by Bloomberg. The Treasury auctioned $44 billion of two-year notes Nov. 23 at a yield of 0.802 percent, the lowest on record.
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U.S. needs to pay big interest to service its historical huge debt. Keeping Treasury yield as low as possible is to the best interest of the U.S. government. Geithner, together with Bernanke, did an excellent job by (a) keeping inflation exception low and (b) directing investor to the bond market. |
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