Yields Slightly Higher on U.S. 30-year Bond Auction
The U.S. Treasury today auctioned $13 billion in 30-year bonds at a yield of 2.904%, the highest level since May. The bid-to-cover ratio reached 2.49, well below the 2.64 average of the last four sales. Indirect bidders, usually considered to…
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Today’s report of a rise in the U.S. trade deficit and the large drop in unemployment claims due to a non-reporting “large” state have not improved the U.S. economic outlook, and the rising yields on the very long-term bonds reflects that. US equity markets are got an early boost today from four strong IPOs, but the markets have pulled back in afternoon trading.
The 10-year Treasury yields initially fell after the 30-year note auction, but later posted a gain for the day, as did the 30-year yields.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
