Today’s $21 billion offering of 10-year notes got sold at a 1.9% yield, under the prior record low of 2%, set in the September auction, and the 1.909% yield the market expected before the sale. The bid-to-cover ratio, a key gauge of overall demand, was 3.29, compared to an average 3.09 of the previous eight sales.
Wednesday, January 11, 2012
For the First Time Ever, Treasury Auctions Ten-Year Notes Yielding Less Than 2%
History made today in regards to a record low auction yield on new issues of 10-year US Treasury Securities. Story at WSJ here.
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That's with a credit downgrade, the Fed "printing money" (Bill Gross says they're printing like "Gangbusters"), record deficits, record national debt, what else?
What else? Imbeciles running things. We'd do as well or maybe better with monkeys throwing darts at dartboards.
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