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Jefferies economist Thomas Simons.....>

US TSYS/BILLS
US TSYS/BILLS: Jefferies economist Thomas Simons said today's 3-month bill
auction "stopped 0.5 basis point short at 1.090%. This is the highest yielding
3-month bill auction stop since July 24th, when investors were avoiding October
maturities for fear of debt ceiling complications."
- He adds that "overall this was a very solid auction" as the "3.19 bid cover is
the highest since August 14th. Indirect bidders took down 43.6%, which is their
largest takedown since Sept. 11th. Directs took down 10.9%, which is at the
upper end of the recent range. Dealers took down 45.5%, which is their smallest
takedown since Aug. 14th."

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