The government is in debt up to its eyeballs, but there is currently an insatiable appetite for U.S. Treasury debt. At least that was the case in today’s 7-year Treasury auction. The 19.3% direct bids looks to be a record for a 7-year auction.
Interest Rate 1-3/8%; High Yield was 1.418% and results allotted at the high was 31.54%
The price was $99.714418 for $29 billion face value in bonds.
CNBC’s Rick Santelli called it an “11” on a scale of “1 to 10″…
This had little or no impact on stocks so far today, but this was an impressive debt auction when you consider just how much debt there is in Treasury securities.
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