Long Bond Auction Demand Proves Resilient With Record Low Yields
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Record-low yields failed to deter bidders at the Treasury’s auction of $13 billion in 30-year bonds as investors continue to prize the world’s safest assets with inflation expectations falling along with global economic growth forecasts.
The securities drew a yield of 2.430 percent, below the previous record of 2.580 percent in July 2012. The decline in oil prices prompted traders to push back expectations for the timing of the first Federal Reserve interest-rate increase into December less than a month after central bank officials discussed raising rates as soon as after the April policy meeting.