Institutional investors continue to make up a high percentage of the bids submitted for Treasury debt at auction. This year, 83% of all bids came from institutional investors, including mutual funds, foreign central banks, pension managers and insurance companies, compared with 84% in 2012 and 37% during the financial crisis in 2008. "Sovereign wealth funds and central banks are going to continue to have demand for Treasurys," James Sarni of Payden & Rygel said.

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