Tuesday, June 2, 2009

Monday June 1 Treasury Auction Results

Results of Monday's Treasury bill auctions:

91-day (13-week) bill: $31 billion

  • Primary Dealer: $12.13 billion
  • Direct Bidder: $1.55 billion
  • Indirect Bidder (foreign): $15.88 billion
  • Bid to cover ratio: 3.57
  • Indirect bidder percentage: 51%
182-day (26-week) bill: $31 billion
  • Primary Dealer: $13.99 billion
  • Direct Bidder: $1.49 billion
  • Indirect Bidder (foreign): $14.29 billion
  • Bid to cover ratio: 3.14
  • Indirect Bidder percentage: 46%

Significantly high foreign bidder percentage for both auctions for short-term Treasuries. No wonder yield curve is steep (see posts.)

On Tuesday, there will be auctions for 4-week bill and 52-week bill.

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