Stock版 - Bond Mkt and Equity Mkt: Who is Right? |
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发帖数: 1904 | 1 (RTTNews) - Finishing off this week's series of long-term securities
auctions, the Treasury Department sold $29 billion worth of seven-year notes
on Thursday, attracting above average demand.
The seven-year note auction drew a high yield of 1.418 percent and a bid-to-
cover ratio of 3.11.
The Treasury also sold $29 billion worth of seven-year notes last month,
drawing a high yield of 1.359 percent and a bid-to-cover ratio of 2.73.
The bid-to-cover ratio is a measure of demand that indicates the amount of
bids for each dollar worth of securities being sold.
The ten previous seven-year note auctions had an average bid-to-cover ratio
of 2.81.
Peter Boockvar, managing director at Miller Tabak, said, "This auction again
highlights the growing disconnect between the message the bond market is
saying about inflation and growth notwithstanding the move higher in
commodity prices and an equity market that can see no wrong."
The seven-year note auction comes after the Treasury sold $35 billion worth
of two-year notes on Tuesday and $35 billion worth of five-year notes on
Wednesday. |
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