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Mix-Ansicht- Financial Times: Erscheinen die Asiaten zur dieswöchigen Treasury-Auktion?!?! - kingsolomon, 10.11.2004, 23:49
- Re: Financial Times: Erscheinen die Asiaten zur dieswöchigen Treasury-Auktion?!?! - CRASH_GURU, 11.11.2004, 07:28
- Könnte auch auf den Aktienmarkt durchschlagen - EM-financial, 11.11.2004, 10:13
- Re: Please climb the wall of worry ;-)) (o.Text) - Ecki1, 11.11.2004, 11:34
Re: Financial Times: Erscheinen die Asiaten zur dieswöchigen Treasury-Auktion?!?!
-->The 10-year note auction proved the least successful of the Treasury's quarterly refunding, posting a high yield of 4.280 percent that is 1 basis point above the when-issued rate at the bidding deadline and a bid-to-cover of 2.05 that was well under August's coverage of 2.90.
Note the prior 10-year auction in September was a reopening that was boycotted by non-dealers, making the August data the better comparison.
Indirect bidders, a category that includes retail accounts and foreign central banks, were awarded 40.5 percent of the auction compared to 54.7 percent at the August refunding. Only 2.9 percent of September's offering was awarded to indirect bidders.
Though results compare poorly with the unusually strong results in August, November's auction nevertheless is a success, especially given uncertainty ahead of wording in the Federal Reserve's policy statement later this afternoon.
The bond market isn't likely to react to today's results, though they do underscore the strength of demand for U.S. Treasuries -- a key plus for the economic outlook given prospects of large fiscal deficits (note October's Treasury budget data will also be released later this afternoon).
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