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.
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