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Article: United States : US Treasury borrows $41 bln in tepid bond market.
- Article from:
- TendersInfo
- Article date:
- October 29, 2009
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Byline: Mamta03
The U.S. government borrowed $41 billion in capital markets on Wednesday, auctioning off a stack of five-year bonds that investors gladly lapped up at a premium.
Traders said bidding was lukewarm at times, forcing the Treasury to offer a higher yield than anticipated on its notes, 2.388 percent. Still, overall demand was strong, amounting to 2.63 times the amount of debt on offer.
Indirect bids, sometimes seen as a loose proxy for foreign interest, were also robust at 54.6 percent, above the recent average. Long-standing concerns about foreign demand for U.S. debt, which emerged after President George W. Bush began to run large ...