The buyers who stampeded to buy 10-year Treasurys priced to yield 1.46% at July's auction are...

|By:, SA News Editor

The buyers who stampeded to buy 10-year Treasurys priced to yield 1.46% at July's auction are absent today (at a 1.68% yield). Today's bid-to-cover ratio of 2.49 fell far below last month's 3.61, and direct bidders took down just 5.2% of the total vs. 45.4% in July, leaving the primary dealers to mop up the rest. TLT -0.5%.