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17% of last treasury auction came from 'mystery direct bid'

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  • #1

    17% of last treasury auction came from 'mystery direct bid'

    17% of the last treasury auction came from 'mystery direct bid': who was it and why? Ben get an itchy trigger finger?

    EDIT: Jesse's take
    Last edited by *T*; January 16, 2010, 04:52 AM.
    It's Economics vs Thermodynamics. Thermodynamics wins.
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  • #2
    Re: 17% of last treasury auction came from 'mystery direct bid'

    Wow. On another thread we were all wondering who could possibly step up to buy all the treasuries being issued this year. Last year it was the mysterious "household sector". Now we have mysterious direct bidders. Who knows? It might be Ben in disguise, or a hedge fund placing a big bet against economic recovery. The only thing that seems clear is that, as the volume of issuance increases, the market for treasuries is turning weird.

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