外国买家继续买买买！Foreign bids accepted jumped at the 10-year-note refunding auction in August. It was the highest proportion for overseas purchases of the note since March 2011. We've noted how foreign demand for Treasuries may increase as the current account deficit grows. Even so, domestic investment funds remained the main buyer in the August auction, buying just under half of securities available. Dealers received only 10% of the auction, the lowest on record.
A portion of the direct bidders tends to be dealers who don't deal primarily with the Federal Reserve. These dealers, who have recently received about 1% of auctions, got only 0.7% this week, the lowest since May 2015.
A portion of the direct bidders tends to be dealers who don't deal primarily with the Federal Reserve. These dealers, who have recently received about 1% of auctions, got only 0.7% this week, the lowest since May 2015.