The Epic American Credit and Bond Bubble Laboratory Message Board

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

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To: mishedlo who wrote (25381)	1/26/2005 2:57:18 PM
From: Amark$p	Read Replies (1) of 110194

Indirect bidders only taking 30% is not adequate, IMO. Indirect took 38% of 20 Year TIP, again not enough, IMO. "The sale of $8 billion in reopened 20-year Treasury inflation protected notes, or TIPS, went at a high yield of 2.00 percent, above what many had expected. It drew bids for 1.51 times the amount on offer, only just beating the modest 1.48 achieved at the initial sale in July. Indirect bidders, including customers of primary dealers and foreign central banks, picked up $3.02 billion or almost 38 percent of the issue. That compares with 47 percent at the last sale. Primary dealers themselves got $4.90 billion of the issue."

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