U.S. Sells 7-year Debt at 2nd Lowest Yield EVER
U.S. sells 7-year debt at 2nd lowest yield ever ( 7_YEAR 10_YEAR ) (by Deborah Levine)
SAN FRANCISCO (MarketWatch) -- The Treasury Department sold $29 billion in 7-year notes (7_year) at a yield of 1.055%, the second lowest yield ever. Bidders offered to buy 2.61 times the amount of debt sold, compared with an average of 2.72 times at the last four sales, according to CRT Capital Group. Indirect bidders, a group which includes foreign central banks, bought 34.9% of the sale, compared to an average of 42%. Direct bidders, a group which includes domestic money managers, purchased another 17%, above the average of 12% recently. After the auction, long-term Treasury prices remained under pressure. Yields on benchmark 10-year notes (10_year) , which move inversely to prices, rose 4 basis points to 1.65%.