(zz from Seeking Alpha)
On Wednesday, the US offered $16 billion worth of 30-year Treasuries (US
debt that will mature in 30 years). Before we get into the details of how
much of a disaster the auction was, we’re going to do a brief review of how
US debt issuances work.
US Debt is issued by the US Treasury. You can bid as much as 30 days in
advance of a debt auction. When the auction actually takes place, investors
can buy directly (Direct Buyers) by buying Treasuries themselves OR they can
buy