TruthisTreason.net – Kevin Hayden
Source: Zero Hedge
First, the irrelevant news:
Today’s $29 billion 7 Year auction just closed at a yield of 2.895%, the highest since April 2010, just the time when QE1 was ending and everyone was certain there would be no follow through monetization. The Bid To Cover was 2.79, weaker compared to recent auctions, and 2 bps wider of the When Issued, implying the auction was not all that hot. Directs took down 8.76%, in line with the last year average, Indirects accounts for 49.41%, or the lowest foreign take down since November 2010, while PDs bought 41.83% of the auction. Altogether a weak auction but it’s not like the PDs would let it fail especially not with QB9 becoming the next “flip back to the Fed” bond for the PD community.
Next, the relevant news:
Now bear with us for a second: the most recently disclosed total debt was 14,211,567,662,931.23 as of March 28. This excludes the settlement of all of this week’s auctions which amount to $35 + $35 + $29 billion (including today) or $99 billion....Continue ReadingLeave a Comment