Obi-Wan Kenobi
/ 178.36.6.* / 2010-03-17 08:54
Bardzo słabo wypadł przetarg bonów 4-tygodniowych... Coraz
trudniej sprzedać dług, musi rosnąc oprocentowanie...Fundatorów nie widać...
Weak 4 Week Auction Anticipates Tightening; Direct Take Down
Greater Than Indirect For First Time; Highest Yield Since
August.
Today's $31 billion 4 week auction produced another record.
The indirect take down was a disappointing, and all time low,
13.2%, compared to a YTD average of 28.5%, while directs
surged once again, hitting a new record high take down of
21.7%, with average YTD take down of 9.6%. The indirect hit
ratio was 82.8%, with Indirect tenders to bid only $4.9
billion, with a $4.1 billion award. Most notably, for the
first time in what appears history, the Direct take down was
greater than the Indirects. At this point it is meritless to
speculate who the directs are which now control nearly a
third of every auction. Otherwise, the Bid To Cover was 3.79,
down from 3.90 previously, and the lowest BTC Year To Date.
This was accentuated by the High Rate of 0.135%, which was
the highest since August of 2009. In a nutshell, the market
is starting to look at tightening as a real threat.