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

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To: russwinter who wrote (45173)11/10/2005 1:27:31 PM
From: Amark$p  Read Replies (2) of 110194
 
Foreign Central Banks stepped up to the plate today on 10 year auction... 55.6%

"For every $1 sold, there were $2.24 worth of bids, compared with $2.68 at the last 10-year note sale in September, which was a reopening of notes issued in August. For the past 12 sales, the bid-to-cover ratio, which gauges demand by comparing total bids with the amount of securities offered for sale, averaged $2.50.

Indirect bidders, which include foreign central banks, bought 55.6 percent, compared with 22.1 percent in September and 46.9 percent at the previous auction in August. Indirect bidders are typically lower in reopenings."
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