Dealers scored a record-low share of the US 30-year bond auction on Thursday, as demand from indirect bidders soared.
- Dealers were awarded only 13.1% of the $24-billion bonds, while indirect bidders were awarded 69.7%, above the recent average.
- Indirect bidders include overseas central banks which placed their bets through the Federal Reserve Bank of New York.
- Demand surpassed expectations, with the yield at 1.91%, nearly 2 basis points below the pre-auction level. Yields fell as low as 6.5 basis points to a week-low of 1.89%.
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