The US 7-year treasury bond sale was a flop!

https://www.zerohedge.com/markets/treasury-yields-soar-after-catastrophic-tailing-7y-auction

TREASURY $62B 7-YEAR NOTE AUCTION RESULTS: 

DRAWS 1.195%

BID-TO-COVER: 2.04 Vs 2.30 PRIOR

Overseas Buyer: 38.06% Vs 64.10% PRIOR

We had already expressed our concern about the US treasury bond sales previously because the US had lost China and the EU as its buyers.

http://sg-stock.blogspot.com/2021/01/the-achilles-heels-in-bidens-policies.html

This latest bond sale shows that foreigners are no longer interested to purchase US bonds.