NEW YORK — The U.S. government received record demand for its bonds in 2011, pushing longer-maturity Treasurys to their best performance since 1995.
The Treasury Department attracted $3.04 in bids for each of the $2.135 trillion in notes and bonds sold, the most since the government began releasing the data in 1992.
Treasurys due in 10 years or more still returned 27.3 percent. The spreading debt crisis in Europe and slower global growth are driving investors to the safety of U.S. assets.
“If the last two weeks are any indication of how next year will start, there’s near-insatiable demand,” said Ira Jersey, an interest-rate strategist at Credit Suisse Group in New York, one of 21 primary dealers that are required to bid at the auctions.
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