A mere $13 billion in 20-year bonds. We are only adding a bit to our immense debt pile. High interest rate was 4.88% and continued the recent upward trend, as it was a fair amount above March’s similar auction and recent averages, but a little lower than expected. Overall demand was good although below last month’s and the all-important foreign buyers stepped up above recent averages. We watch these so carefully because among other things the interest rate tells us how much more we are adding to our annual deficits, which currently are financed with more and more debt.
