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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Sun Tzu who wrote (93397)	4/10/2008 3:12:27 PM
From: Sun Tzu	of 110194

Fed's $50 Billion TSLF Operation Draws Bid-to-Cover Ratio of 0.68 14:37 04/10 (CEP News) – Today's loan of $50 billion in various treasuries at the Fed's Term Securities Lending Facility drew a total of $33.95 billion in bids. The bid-to-cover ratio was 0.68, which means only 68 cents were bid for every dollar auctioned. This is much lower than the previous bid-to-cover ratio of 1.88. The stop-out rate was 0.25%. The TSLF loan is for a period of 28-days. By Erik Kevin Franco, efranco@economicnews.ca, edited by Nancy Girgis, ngirgis@economicnews.ca (END) ©CEP Newswires - ©CEP News Ltd. 2008. All Rights Reserved. www.economicnews.ca

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