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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: westpacific who wrote (76735)12/27/2006 1:32:11 PM
From: $Mogul   of 110194
 
The Treasury Department sold $20 billion 2-year notes at a yield of 4.765% vs Nov 4.692%, Oct 4.894%. The 2-year auction shows a bid-to-cover of 2.46 compares to Nov 3.02, Oct 2.91. Indirect bidders, includes foreign central banks, took 34.7% vs Nov 56.0%, Oct 30.8%. December and January tend to have weaker indirect bidder participation, so 34.7% is relatively strong.

The Treasury Department sold $20 billion 2-year notes at a yield of 4.765% vs Nov 4.692%, Oct 4.894%. The 2-year auction shows a bid-to-cover of 2.46 compares to Nov 3.02, Oct 2.91. Indirect bidders, includes foreign central banks, took 34.7% vs Nov 56.0%, Oct 30.8%. December and January tend to have weaker indirect bidder participation, so 34.7% is relatively strong.

I don't preceive that for short term bonds, anyone will get better rates then today, hence the likely unsustainable spike in yields today.
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