The "indirect" bid was 11% of the auction, after averaging 27.2% in the last six auctions. The decline shows hesitancy among foreign banks, reports Arthur B. Hill for ETF Investment Outlook.
The bond market responded with a dip. The iShares 20+ Year Bond (TLT) declined 2%, making yesterday the biggest loss since April 2007. TLT still remains on an upward trend, though. Surveyors are pondering if this is a one-time random chance, or a sign of what’s to come.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.