Ten-Year Treasury Note Buyers, Settling for a Paltry Yield, Bypass Wall Street for the Paper
The yield on U.S. Treasury 10-Year notes hit a new low in an auction.
Wall Street dealers were “stunned” by the scale of the demand, reports the Financial Times. Almost half the buying came from investors buying the paper directly from the Federal Reserve Bank of New York, not through a Wall Street dealer like JPMorgan (JPM) or Goldman (GS), up from an average 17%.
Filed under: Economic Watch