Treasuries Draw Weakest Demand Since '09 as Central Banks Unload
- Bid-to-cover ratio for U.S. bond, note auctions falls in 2015
- Primary dealers also pull back amid stricter capital rules
Are Central Banks Divergence the Story of 2016?
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Demand at U.S. Treasury auctions fell this year to the lowest since 2009 as Wall Street dealers and central banks pulled back.
Investors submitted bids for 2.8 times the almost $2 trillion of notes and bonds that the U.S. has offered, down from 2.99 in 2014, data compiled by Bloomberg show. A $26 billion sale of two-year notes Monday drew the weakest demand since August 2009.