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Thursday, October 29, 2009
Treasurys Sells $31 Bln In 7-year Notes At 3.141%
By Deborah Levine
MarketWatch Pulse
NEW YORK -- The Treasury Department sold a record $31 billion in 7-year notes on Thursday, finishing off a week of big debt sales. Bidders offered $2.65 for every $1 of debt sold, compared to $2.72 on average at the last three sales. Indirect bidders, a group of investors that includes foreign central banks, bought 59.3%, compared to an average of 61.8% at recent sales. Direct bidders, which include firms buying for their own accounts, bought another 3.6%. In the last three auctions, the group bought an average of 3.3% of the sale. The broader bond market remained down after the auction, weighed by strong economic data and the end of the Federal Reserve's Treasury-purchase program. Ten-year note yields , which move inversely to prices, rose 9 basis points to 3.51%.
Copyright © 2009 MarketWatch, Inc.
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