Poorly Received Treasury Auction Didn't Help the Market (ETF: IEF)

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The Treasury auction yesterday was poorly received and bid. This didn’t help the stock market despite falling crude oil prices. And, with a poor auction, you’ll hear a lot from bears who have been waiting for overseas investors to stop their heavy buying of US bonds. There is an unwritten agreement among industrial countries that US consumers will buy overseas goods if the exporting countries buy our bonds. Why would they want to hurt their best customer? Well, they’re not perfect either sometimes.