Results of today's treasury auction have been released:
No market breakers here...but we continue to plow towards the debt limit, now only $25 Billion below the debt ceiling, with $13 Billion in 30 years scheduled for tomorrow.
Fellows: Good luck making to to May, much less July.
Total Competitive: $20.9 Billion
Yield 3.494 vs last month's 3.499
Interest Rate 3-5/8
Primary dealers took down > 50% at $10.8 Billion
Bid to Cover 3.13, the lowest of 2011
http://www.treasurydirect.gov/instit/annceresult/press/preanre/2011/R_20110413_1.pdf
