confoundedinterest17

Double Whammy! 10-year Treasury Bid-to-cover Ratio Lowest Since ’09 As Treasury Borrowing Increases And Fed Tightens

Based on the number of bids that investors submitted versus the amount sold, average demand for 10-year notes has fallen to the lowest since October 2009. (Bid-to-cover  compares the volume of securities that dealers enter bids for to the volume offered for sale). Treasury supply is further exacerbating what should be a natural move away from the market … Continue reading Double Whammy! 10-year Treasury Bid-to-cover Ratio Lowest Since ’09 As Treasury Borrowing Increases And Fed Tightens