World’s Appetite For Our Bonds Waning?

Yesterday’s auction for three year treasury bonds is showing signs that the world may no longer be as enthused about financing Obama’s socialim as they once were. The coverage was  bellow three to one. That means that there was less than $3 available to purchase every $1 of three year bonds.   To put that in perspective the last 7 such auctions had well over a 3:1 ratio.

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