Posted on 08/08/2013 10:50:50 AM PDT by whitedog57
Today’s 30 year Treasury auction was similar to the 10 year auction from earlier this week.
30yraucr
Specifically, the bid to cover ratio fell to the 2nd lowest point since February 2009.
30yrbcover
February 2009 is near the beginning of QE.
04-qe-timeline
Falling bid to cover reflects concerns about the Fed tapering (aka, removing the punch bowl).
punchbowl
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