The last auction of US debt for the week, $22 billion in 30-year bonds went off fairly well considering all the chaos. The interest rate paid, 4.81% was significantly higher than last month, but below the expected. Demand was at a usual recent level, but domestic buyers showed up for this auction, unlike the prior two this week. If you look at the details of the auction results, remembering that how this works is that people put in bids in essence for the yield they will accept and the Treasury obviously takes the lowest yield bids first, it appears that foreign buyers were willing to accept lower yields than domestic buyers as about 82% of the value of those bids was accepted, compared to only 62% of domestic buyer bid value. (UST Results)
