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US Treasury 10 Year Auction Delivers Lowest Bid-to-cover Since March ’09

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

The 10 year US Treasury auction yesterday produced a new low. The bid-to-cover ratio for the 10 year Treasury fell to 2.220. It is the lowest bid-to-cover ratio since March 2009.

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The 10-year bid-to-cover has been falling since July 2012.  Here is a nice summary from Bloomberg for the last year.

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How much has US Public (Treasury) debt increased since March 2009? $8.855 TRILLION or 77.3% increase in US Treasury debt.

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What have we gotten for this massive increase in Treasury debt?  The worst post-recession wage recovery since President Lyndon B. Johnson.

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Parks and Recreations’ April Ludgate is not thrilled with the massive growth in Federal debt combined with the WORST earnings recovery since 1965.

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