Does rare 30-year bond auction signal 9-11-like ATTACK?

U.S. and foreign money managers, in a rare move, elbowed out Wall Street dealers in Thursday's highly anticipated return of the U.S. 30-year Treasury bond, taking 65 percent of the offering.

"There has been nearly five years of pent-up demand," said Gib Clark, head Treasury trader at Zions First National Bank. The 30-year, or long, bond was last sold in August 2001.

Investors, including insurance firms and pension funds, wanted the long bonds badly and outbid the usual buyers, the primary dealers.

I don't know about you, but I smell a rat.

Given the parallel to the last long bond sale, one month before 9-11, and everything that's scheduled to happen next month with Iran, I can't help but think there's more to this than meets the eye.

Institutional managers traditionally directly buy new U.S. securities from primary dealers . . .

However, on Thursday, many of these funds decided to bid for long bonds themselves, rather than scrambling for the bonds in the secondary market after the auction and perhaps paying more.

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Big money managers "have cash to put to work, they wanted to buy bonds and they bid aggressively to own them," [me thinks, too aggressively]

[T]he share of indirect bids for the long bond was the highest in more than two years, and and largest ever in dollar terms.

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The $14 billion offering of 30-year bonds was the last leg of the Treasury's $48 billion quarterly refunding.

Just in time for WWIII.