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The Treasury sells $29B in seven-year notes at a record-low 1.203%. Bid-to-cover ratio of 2.8,...

  • Thursday, May 24, 2012, 1:04 PM ET
    The Treasury sells $29B in seven-year notes at a record-low 1.203%. Bid-to-cover ratio of 2.8, vs. a recent average of 2.58; indirect bidders take 42.7%, vs. a recent 38.7%. Direct bidders take 15.7%, vs. a recent 15.5%.
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    7 years at 1.203%....average interest rate for U.S. debt is 2.17%...
    24 May 2012, 01:09 PM Reply Like
  •  
    The US should be sytematically extending the average maturity of its debt. With interest rates as low as they are, an effort should be made to lock them in.

    By so doing, valuable time and breathing room would be gained, which could be used to make for a smoother transition to sustainable fiscal policy.
    24 May 2012, 06:58 PM Reply Like
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