Wednesday, July 29, 2009

Second Weak Treasury Auction in a Row

With the Fed and China not aggressive buyers, things aren't printing

The U.S. Treasury sold $39 billion in five-year debt Wednesday in an auction that drew poor demand. Demand for the five-year notes was below average, measured by the bid-to-cover ratio of 1.92, the lowest in almost a year.

It was the second lackluster auction in a row.

A $28 billion seven-year offering is up next on Thursday.

1 comment:

  1. I'm amazed anybody buys that Treasury crap. I would not buy any with China's money.