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No. 6: If you don’t give it to me you’ll only lend it to someone else and look where that got us
The US treasury market reaches breaking point

The US treasury market reaches breaking point

The structural issue that could cause the world's market of last resort to grind to a halt

Wednesday, September 3, 2008

Demand for government securities recovers, debt manager raises issue volume.





Demand for government securities recovers, debt manager raises issue volume. Investor demand for government securities picked up at the latest auction for three-month T-bills, prompting the State Debt Management Agency (AKK) to increase the volume of the float, the AKK informed. Bids at the auction amounted to HUF 145bn, providing a coverage ratio against the initial supply of 3.6. Consequently, the AKK floated HUF 50bn of the T-bills or HUF 10bn more than the planned. The average yield at the auction stood at 8.62% and rose by 12bps over the secondary market benchmark rate despite the strong demand. It was also up by 1bps from the average yield, achieved at the previous auction one week ago and has stagnated at approximately this level since mid-July.







As I seek to add some eloquence to our track record in support of our claim to be worthy winners, I can only quote Aristotle’s definition of excellence to you: ‘We are what we repeatedly do. Excellence is not an act but a habit’  

An investment banker shows off his knowledge of Greek philosophy in his attempt to win a global Award for Excellence. Unfortunately, Euromoney was unpersuaded

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