22
Sep
2009
Mysterious CNBC Blurb on Treasury Auction
I am not being sarcastic, I want someone to explain what the heck this means. Below is the headline and blurb on the front page of CNBC for this story:
TREASURYS HOLD GAINS AFTER
STRONG AUCTION OF 2-YEAR DEBT
US Treasury debt prices held moderately positive after a record auction of two-year notes fetched strong demand but at a higher yield than might have been expected.
Am I missing something? It sounds like they’re saying a lot of people wanted to buy Treasurys at a stable price, after the price was lowered. Am I being too cynical?
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