California Bonds? Detroit Bonds? 30-Year Treasuries? Bring ‘Em On.

People are sure digging on the “collapse” thesis with respect to bond purchasing:

  • Lockyer Sells 25% More California Bonds Than Forecast (Bloomberg)
  • Detroit sees lower than expected interest rates on new bond offering (DetNews)
  • Lower yield and high bid-to-cover on this week’s 30-year Treasury auction  (Business Week)
  • State and local government built up biggest debt gains ever in Q4 of last year (Bond Buyer)

Check bid-to-cover on the 30-year over last twelve months: