Investors continue to gobble up government debt, as the bid to cover on today's 2 yr auction was almost 4 to 1, yielding the lowest interest rate on record.
Investors bid $3.78 for every $1 the U.S. Treasury sold today, yielding 0.441%, as investors seek safety.
This is especially noteworthy, as investors had bid $3.21 for every $1 sold in the past four auctions, so this is a noteworthy pickup in demand for U.S. debt.
Indirect bidders, which includes foreign central banks, bought 39% of the sale, versus the recent 34.9% amount.
Direct bidders, including domestic money managers, purchased 10.8%, far lower than the 15.5% they had been buying.
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