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发表于 2009-12-10 01:11 PM
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Long bond auction even worse than 10-year
12/10/2009 1:09 PM EST
The long bond auction was pretty ugly. Pre-auction expectations were for a 4.48% yield, it came at 4.52%. That's a huge tail on the long bond.
Secondary stats were so-so. Bid/cover was 2.45x, slightly better than the last two long-bond auctions (2.26 in November and 2.37 in October). Indirect bid was a little weaker than November's auction (40.2% vs. 44%) but up from 34.5% in September.
Bottom line is that there are plenty of buyers of U.S. Treasuries but on this day, it took a higher yield to get it done. |
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