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Treasury Auctions Done. Bonds Cautiously Resilient as Stocks Repeat History - 18 hours ago
Posted To: MBS CommentaryTreasury just sold $29 billion 7s to a group of uninterested buyers... Auction demand as measured by the bid to cover ratio was below average. 2.78 bids were submitted for every 1 accepted by Treasury. Compare that to the ten auction average of 2.81 and the five auction average of 2.86. 25.6% of the issue was awarded at the high yield of 2.394%. This was 2.1bps above the 1pm "when issued" bid, a sign that buyers were looking to pay a little less than they did. Primary dealers took down a much greater award than usual, which explains why the high yield tailed. 48.8% of the issue and 25.1% of what they bid on. Both metrics are above average. This is not indicative of strong buyside demand. Directs were awarded 8.9% of the competitive bid. That makes them 0 for 3 this week. Indirects...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
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Rural Development Division - 848 Jesse Jewell Pkwy - Gainesville, GA 30501
Office Phone: (770) 503-0380 Fax: (678) 677-8004 Toll Free Phone: (877) 538-3393

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Homestar Financial Corporation, a Georgia Corporation, holds the following state licenses in order to make or broker mortgage loans or operate under a licensing exemption as described. Homestar Financial Corporation is licensed as a Nationally Approved USDA lender for the Rural Development Single Family Housing Guaranteed mortgage program, a HUD Correspondent Mortgagee, License No. 1897400009, Georgia Residential Mortgage Licensee # 17368, Florida Mortgage Lender License ML# 0700287, Tennessee Mortgage Broker Certification # 0000003245, North Carolina Mortgage Lender License # L-143335, operates under exemption from licensing in Alabama, and operates as a lender in South Carolina where licensing is not required.



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