U.S. 10-year sells at record low yield

TREASURY NOTES remained higher after the U.S. sale of $24 billion in 10-year notes drew a record low auction yield.
Posted 5/9/12

WASHINGTON - Treasury notes remained higher after the U.S. sale of $24 billion in 10-year notes drew a record low auction yield.

The securities were sold at a yield of 1.855 percent, compared with a forecast of 1.853 percent in a Bloomberg News survey of seven of the Federal Reserve’s 21 primary dealers.

The bid-to-cover ratio, which gauges demand by comparing total bids with the amount of securities offered, was 2.90, compared with an average of 3.11 for the previous 10 sales.

Treasuries yields fell earlier below 1.8 percent for the first time since February as Greek politicians struggled to form a government, adding to concern that Europe’s financial turmoil is deepening.

“Any concerns about relative value and things like that are taking a back seat to the larger risk-off issue as investors just want safety, despite the rich levels,” Michael Cloherty, head of U.S. interest-rate strategist at Royal Bank of Canada’s RBC Capital Markets unit in New York, one of the primary dealers obligated to bid at the auctions, said before the sale.

The yield on the current 10-year note fell one basis points, or 0.01 percentage point, to 1.83 percent, at 1:04 p.m. in New York, according to Bloomberg Bond Trader prices.

Next Page
PBN Hosted

Join PBN and two panels of successful female executives, business owners and entrepreneurs as we delve into what women should do to advance their careers, and become leaders in the corporate world and their own enterprises.
  • Book of Lists Party
    Save the date - January 15, 2015 for PBN's Book of Lists Party at the Providence ...
Purchase Data
Book of Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  • Purchase an e-File of the entire Book of Lists database
  • Purchase a printed copy of the Book of Lists
    Latest News