Interest Rate Roundup

Thursday, June 25, 2009

Another good auction, this time of 7-year Notes

Got to hand it to the Treasury, they pulled off a pretty good batch of auctions this week. The $27 billion of 7-year notes went off at a yield of 3.329%. That was better than pre-auction talk of 3.36%. The bid-to-cover ratio was 2.82, up from 2.26 in the last auction and the highest since the Treasury started selling this maturity again in February. Indirect bidders took down 67.2% of the notes sold, more than double the 33% in the last auction and also the highest yet.


  • Mike, you might want to do a post about how the Fed recently changed the definition of 'indirect bidders.' Seems like there's some funny-business going on. I don't think the Fed is being forthright at all.


    By Anonymous Anonymous, at June 25, 2009 at 1:56 PM  

  • Treasury changed the definition of indirect bidders on June 1.

    London Gold Market Report

    Sense on Cents

    By Blogger Superbear, at June 26, 2009 at 2:22 AM  

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