A record 76% share of July's Treasury auctions went to domestic investment funds, according to Oxford Economics. Here's what to know about a lot more supply...
The recent deluge of Treasurys sold at auction has gone mostly to domestic investment funds, according to Oxford Economics.
Domestic funds snapped up about 76% of July’s Treasury auction supply, marking the fourth straight month in a row of a record share, according to an Oxford tally, while foreign allotments have been weaker. Treasury bill issuance is expected to total $728 billion in the third quarter, and $402 billion in the fourth-quarter, according to a forecast by BofA Global’s rates team on Friday. That’s largely to help refill the Treasury cash account run low by the long debt-ceiling battle.
“I think there is quite large appetite for safe, high-yield debt, and short-term Treasury securities certainly offer a nice yield.”
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