Tornato ora

, fra poco passo ai fornelli - che sia che i 'mericans hanno voluto essere troppo ingordi nello spellazzare la gallina, e questa s'è in.cazzata?
US Treasuries retreat in face of sloppy auction
Thu Sep 9, 2004 01:21 PM ET
NEW YORK, Sept 9 (Reuters) - Treasuries prices turned lower in choppy trade on Thursday as an auction of U.S. government debt drew almost no private demand, leaving the dealer community holding a pile of paper.
The sale of $9 billion in reopened 10-year Treasury notes went at a high yield of 4.195 percent, well above expectations, and drew bids for only 2.12 times the amount on offer, down from August's 2.90 level.
The breakdown showed indirect bidders, including
customers of primary dealers and foreign central banks, picked up only $257 million, or just 2.8 percent of the whole issue. That compares to 54 percent in the original sale of the notes in August and 38 percent in the last reopening.
Primary dealers took $8.65 billion of the issue, or nearly all of it. Direct bidders took a mere $61 million, a return to more typical levels after the huge bidding increase seen at Wednesday's five-year sale.
The current 10-year note (US10YT=RR: Quote, Profile, Research) shed 6/32 in price, lifting its yield to 4.19 percent from 4.16 percent on Wednesday. In when-issued trading, yields on the new 10-year paper had hovered around 4.17 percent before the sale.