Mideast $$ to US bonds
Middle East oil producers like Saudi Arabia have been showing up at recent Treasury auctions.
OPEC members with heavy wallets full of oil-tied dollars — as crude surged to highs not seen in many months — showed up to bid on last week’s $29 billion in US Treasury 7-year notes at auction, traders said.
The renewed demand likely stemmed from Mideastern countries worried about Syrian violence and Iranian saber-rattling.
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