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Human Interest

Primary Dealer Bid Surges In Poor 2Y Auction

Primary Dealer Bid Surges In Poor 2Y Auction

While the high yield of the just priced 2Y auction came "on the screws" at 1.345%, below last month's 1.401%, but above the six previous auction average of 1.305%. and exactly where the When Issued suggested today's auction of $26 billion in 2Y notes would price, the internals were decidedly weaker than the stop out would suggest.

The bid-to- cover of 2.86 was a notable decline from last month's 3.06%, as well as below the 6 month average of 2.90%. It was also the lowest since April.

"He Said That?!"

"He Said That?!"

Here it is, in cold, hard black-and-white prose, a damning indictment of President John F. Kennedy in his own words...

Satirically authored by Straight Line Logic's Robert Gore...

From a dinner honoring Nobel Prize Winners April 29, 1962:

I want to tell you how welcome you are to the White House. I think this is the most extraordinary collection of talent, of human knowledge, that has ever been gathered together at the White House, with the possible exception of when Thomas Jefferson dined alone.

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