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Jefferies money market economist Tom........>

US TSYS
US TSYS: Jefferies money market economist Tom Simons said today's "six-month
bill auction stopped 1 bps short, coming at 1.170%. The stats for this auction
were considerably stronger than those for the 3-month. -The 3.34 bid/cover ratio
is the highest since August 28th."
- He adds that "indirect bidders took down 56.4% of the auction, the most since
August 28th. The 39.5% Dealer takedown is the smallest since August 28th. The
Direct takedown of 4.1% is close to average."

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