Someone at the FED forgot to illegally transfer money to the offshore funds to make it look like the demand is there. Someojne will get fired for this mistake.
stateside
Failed 30-Year Auction Closes Rough Week; Treasurys Fall
CNBC staff and wire reports | February 11, 2010 | 01:12 PM EST
A n anemic government auction of 30-year bonds closed out a weak round of debt sales with low demand on the far end of the debt yield curve.
The $25 billion auction fetched a whopping 4.72 percent high yield on weak demand, reflected in a 2.36 bid-to-cover ratio that compares demand for each dollar auctioned. The average is about 2.50.
Direct bidding, or Treasurys bought directly through the government, was 24 percent, considered a high number and indicative of weak foreign demand when compared to the indirect bid done through dealers of 29 percent.
Treasurys immediately sold off on the news after being modestly lower earlier in the session.
The benchmark 10-year note yield jumped to 3.75 percent while the 30-year long bond yield moved to 4.69 percent, well above the 4.62 percent from late Wednesday.
Investors earlier paid little attention to lower than expected weekly jobless claims.
The number of U.S. workers filing new applications for jobless benefits fell to a seasonally adjusted 440,000 for the week ended Feb. 6, below analysts' expectations for a reading of 465,000 and down from the previous week's 483,000. The market largely shrugged the data off however.
