Bigly 5YR Auction tails 0.7bp
So a little after a massive $56Bn 2YR auction we saw a $57Bn 5YR auction where at noon yields were 0.39% and the auction high came in at 0.397%
For those keeping track that’s $113 Billion in securities auctioned by the US Treasury today. Here let’s look at it this way $113,000,000,000 or on a lighter note,
If you could save $100,000/year, it would take you 1,130,000 years to save 113 billion dollars. If you could save $10,000 every single day, then it would only take you 30,959 years to save 113 billion.
With 113 billion dollars, you could afford to give every man, woman, and child in Canada $3,138.89. (researchmaniacs.com)
So yea the numbers are just downright Monopoly at this point and its no wonder the socialists are rising up…for us that would be the obvious battle cry for equality, yet how can you yell and scream and demand something when you don’t even know the root cause of the inequality you are demanding be rectified???
Anyway here are the auction results for today’s record $57Bn 5YR issue:
Bid to Cover was unchanged from October at just 2.38, and below the recent average of 2.47
Indirects dropped from 61.9% last month to just 56.5%
Directs taking down 14.3%
Dealers left holding 29.2% of the auction, up from 24.1% in Oct and the highest since July.
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