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stunjamie

11/07/02 9:39 AM

#42912 RE: Ste #42877

Much that I think the US Treasury would like to save money on its debt, the majority of what it has done has been fixed rate, such that only new borrowing will be at the new lower levels. It does however risk the possibility of a lack of demand for newly auctioned instruments at rates which investors feel are unsustainable (both Japan and the UK have had under-allocated auctions on this basis).