Treasuries Tumble as Europe Optimism Damps Demand at 10-Year Note Auction

Thursday, October 13, 2011
By Paul Martin

By Cordell Eddings and Susanne Walker
Bloomberg.com

Treasury 10-year note yields rose to the highest level in six weeks as optimism European leaders will be able to contain the region’s debt crisis reduced the haven appeal of the securities at today’s $21 billion auction.
U.S. government bonds are off to the worst monthly start this year after completing the strongest quarter since 2008 amid rising appetite for higher-risk assets. The bid-to-cover ratio on today’s auction, which gauges demand by comparing total bids with the amount of securities offered, was 2.86, the lowest since November 2010. The European Union outlined plans to recapitalize banks and halt the debt crisis, and stocks climbed.

The Rest…HERE

Leave a Reply

Support Revolution Radio

For a limited time only, your donation get you a special perk. Every $30.00 donation gets you a fancy "say no to Government Hat". Every $20.00 donation gets you the same, but on a wonderful coffee mug. Just click the button below and give till it hurts...