Something Very Strange Is Happening With Treasuries

AGA7d

http://seekingalpha.com/article/ ... =article_sb_popular
...
"This means that the Treasury took up EVERY single cent of competitive bids coming from indirect buyers. Remember, indirect buyers are usually assumed to be foreign governments (even the Treasury website admits this).

If this was the case yesterday, then foreign governments barely bought much of anything in yesterday’s auction (only 19% of total debt issued). Moreover, it implies that Primary Dealers (those having to buy) had to gorge on the auction to make up for the fact that few if any foreign governments are interested in buying our debt anymore (including even short-term debt).

Or…

One could potentially argue that this indirect buying came from the Fed covertly buying under the guise of an indirect bidder (the Treasury recently changed the definition of what qualifies for an indirect bidder to make it more vague). It IS rather odd that every single cent of competitive bidding coming from indirect buyers was filled. It’s almost as if the indirect buyers knew precisely WHAT yield to accept… OR were simply trying to take up the slack in what was already a VERY weak auction."

Cobra

说这个没用，大家早就怀疑，那有啥法子？

sooners

1# AGA7d


still, good to know.... thx.

AGA7d

说这个没用，大家早就怀疑，那有啥法子？
Cobra 发表于 2010-2-25 23:03

We may see better in the coming auctions.