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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.


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


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


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


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



Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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