Huge Demand For 30-Year Treasuries As Operation Twist Begins

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The U.S. Treasury Department sold $13 billion in 30-year bonds at 3.12% this afternoon, setting the lowest yield on record for a bond auction. Prior to the sale, analysts polled by Bloomberg expected bonds to yield a higher rate of 3.16%.

The bid-to-cover ratio, the metric used to measure demand in an auction, came in at 2.94, which reflects stronger demand than this week's 10-year bond auction. It was also stronger than demand during the September and August 30-year auctions.

Primary dealers, per usual, tendered the highest number of bids, but secured only 41.8% of the sale. Indirect bidders, which includes foreign monetary authorities, purchased bonds worth $3.7 billion, or 28.7% of the total block.

As part of its monetary policy, Operation Twist, the Federal Reserve purchased $4.88 billion in long-term Treasuries, helping push down long-term borrowing costs.

The bonds will mature on August 15, 2041.

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Matt Taibbi Lists The 5 Things The Occupy Wall Street Protesters Should Demand

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The man who called Goldman Sachs a "great vampire squid" has some advice for Occupy Wall Street.

Not that he doesn't think they're doing things well. In fact, he thinks the logic behind the protester's lack of demands is ingenious.

But if they were to figure out their specific demands. Here's where he, per his article in Rolling Stone today, thinks they should start:

1. Break up the monopolies. He's talking about the 20 or so "too big to fail" companies in our country that could single-handedly take down our economy.

2. Pay for your own bailouts. "A tax of 0.1 percent on all trades of stocks and bonds and a 0.01 percent tax on all trades of derivatives would generate enough revenue to pay us back for the bailouts, and still have plenty left over to fight the deficits the banks claim to be so worried about..."

3. No public money for private lobbying. Pretty self-explanatory.

4. Tax hedge-fund gamblers. Right now, because of the carried-interest tax break, they're only paying about 15%.

5. Change the way bankers get paid. Bonuses shouldn't be paid up-front. They should be contingent upon performance. 

Actually, the groups coalescing around the Occupy Wall Street movement have started to mention demands, though they aren't official. Here's a video of the pep talk they had before yesterdays Millionaires March. They specifically mention keeping the New York State Millionaires tax alive and well:

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UPDATE: Calderon Condemns Casino Attack, Blasts U.S. For Its "Insatiable Demand For Drugs"

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Mexican president Felipe Calderon on Friday declared three days of mourning after two dozen gunmen burst into the Casino Royale in Monterey Mexico Thursday, doused the building with fuel and set the structure ablaze trapping dozens of people inside.

Calderon also said the U.S. is failing in its efforts to stem the drug trade and prevent the import of U.S. weapons into Mexico. He called on the American government: "to reflect on the tragedy we are living in in Mexico and many other Latin American countries, in large part from the insatiable consumption of drugs involving millions and millions of Americans" (viahttp://twitter.com/#%21/mpoppel).

Calderon offered a $2.4 million reward for the capture of those responsible.

From Martha's Vineyard President Obama is calling the attack "barbaric" and "reprehensible" -- confirming  U.S. intentions to continue its fight against Mexican cartels.

CBS reports survivors say the armed men entered the casino in what looked to be a robbery, but instead poured gasoline from tanks each of them carried and screamed at the workers and guests to get out.

In terror, many people ran farther into the building where they were trapped by the flames and died.

Fifty-two deaths have so far been confirmed.

Calderon says the attack was likely the work of a local drug cartel but one has yet to be named.

Mexican cartels often target casinos, threatening to burn them down if they refuse to pay extortion.

This is the second time in three months the Casino Royale was attacked.

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