This mornings 30 year treasury auction was a train wreak. Weakest purchases by foreign buyers EVER!


There are 3 groups that buy treasury's at the auctions. The direct Bidders, the indirect bidders and finally the FED.


This mornings statistics tell the whole story:


Direct Bidders (US Banks, and US parties) : 19.5%


Indirect Bidders (Foreign Central Banks, Foreign banks, ....) : 11.5%


Leaving a whopping 69% bought by the buyer of last resort. The Federal Reserve.


Can you say Weirmer Republic here we come.......