This surely contributed to today's demand for ZB later in the day with a 262 point DOW rally.
Treasuries' Scarcity Triggers Repo Market Failures
http://www.bloomberg.com/apps/news?pid=20601009&sid=ae_4oQex1o1g&refer=bond
By Liz Capo McCormick
March 20 (Bloomberg) -- Surging demand for U.S. Treasuries is causing failures to deliver or receive government debt in the $6.3 trillion a day market for borrowing and lending to climb to the highest level in almost four years.
Failures, an indication of scarcity, surged to $1.795 trillion in the week ended March 5, the highest since May 2004, and up from $374 billion the prior week.
Treasuries' Scarcity Triggers Repo Market Failures
http://www.bloomberg.com/apps/news?pid=20601009&sid=ae_4oQex1o1g&refer=bond
By Liz Capo McCormick
March 20 (Bloomberg) -- Surging demand for U.S. Treasuries is causing failures to deliver or receive government debt in the $6.3 trillion a day market for borrowing and lending to climb to the highest level in almost four years.
Failures, an indication of scarcity, surged to $1.795 trillion in the week ended March 5, the highest since May 2004, and up from $374 billion the prior week.

