Bond Auctions & MBA
Mortgage Bankers Association said its mortgage application market index fell 8.4 percent to 611.3 for the week ending Jan. 19, its lowest level in four weeks.
Wend $20B auction of new 2 year notes with indirect bidders taking 26.6 percent of bonds. The sale also saw a strong bid-to-cover ratio of 3.03.
Fri $13B auction of new 5 year notes was met with relatively lukewarm demand.
Indirect bidders took a weak 21.9 percent of the notes, compared with an average of about 29 percent in the 2006 auctions.
Bid to cover ratio of 2.21, below the average of 2.29 in the 12, five-year note auctions of 2006.
Wend $20B auction of new 2 year notes with indirect bidders taking 26.6 percent of bonds. The sale also saw a strong bid-to-cover ratio of 3.03.
Fri $13B auction of new 5 year notes was met with relatively lukewarm demand.
Indirect bidders took a weak 21.9 percent of the notes, compared with an average of about 29 percent in the 2006 auctions.
Bid to cover ratio of 2.21, below the average of 2.29 in the 12, five-year note auctions of 2006.
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