Treasury auctions 7-year notes at record low yield
Posted: Thu Sep 29, 2011 7:29 pmTreasury auctions 7-year notes at record low yield
SAN FRANCISCO (MarketWatch) -- The Treasury Department sold $29 billion in 7-year notes Thursday at a yield of 1.496%, the lowest on record for an auction of the notes. Bidders offered to buy 3.02 times the amount of debt sold, compared to an average of 2.80 times at the last four sales. Indirect bidders, a group that includes foreign central banks, bought 41.6%, versus 46.8% in recent sales. Direct bidders, which includes domestic money managers, purchased another 13.6%, versus an average of 10.5%. Short- to mid-term Treasurys remained lower after the auction. Yields on 10-year notes , which move inversely to prices, rose 2 basis points to just over 2%. The 30-year bond remained higher, with yields down 3 basis points to 3.04%.
SAN FRANCISCO (MarketWatch) -- The Treasury Department sold $29 billion in 7-year notes Thursday at a yield of 1.496%, the lowest on record for an auction of the notes. Bidders offered to buy 3.02 times the amount of debt sold, compared to an average of 2.80 times at the last four sales. Indirect bidders, a group that includes foreign central banks, bought 41.6%, versus 46.8% in recent sales. Direct bidders, which includes domestic money managers, purchased another 13.6%, versus an average of 10.5%. Short- to mid-term Treasurys remained lower after the auction. Yields on 10-year notes , which move inversely to prices, rose 2 basis points to just over 2%. The 30-year bond remained higher, with yields down 3 basis points to 3.04%.