US Treasuries rise on strong 10-year note auction
Thu Aug 11, 2005 01:15 PM ET
NEW YORK, Aug 11 (Reuters) - U.S. Treasury debt prices gained ground on Thursday after an auction of new 10-year government debt generated much more interest than many had expected, including strong demand from indirect bidders.
The sale of $13 billion in new 10-year notes went out at a high yield of 4.350 percent. It drew bids for 2.59 times the amount on offer, above the 2.33 at the previous initial 10-year auction in May and the 2.43 average of 2004's four initial auctions, which excludes reopenings.
Indirect bidders, a class that includes foreign central banks, picked up $6.02 billion, or 46.3 percent of Thursday's auction, easily topping the 31.4 at the last initial auction in May and just above 2004's average of 46 percent at the four initial auctions.
Indirect bidders had made poor showings earlier this week at the first two legs of Treasury's quarterly refunding -- a $13 billion sale of five-year notes on Wednesday and an $18 billion sale on three-year notes on Monday.
The current 10-year note (US10YT=RR: Quote, Profile, Research) jumped 11/32 in price for a yield of 4.35 percent, compared with 4.40 percent late on Wednesday.
© Reuters 2005. All Rights Reserved.
Ovviamente l'asta del decennale è andata bene - il flattening trade, in questo caso carry trade -2/+10 , lo sta facendo tutto il mondo, a quanto pare banche centrali comprese, ci guadagnan sempre meno ma son sempre soldi..... - mavadavialchiul
, così mi ritiran sul quel somaro di un crucco...me ne torno in vacanza
a rigor di logica anche il rialzo dell'energy 
