“There’s a lot more money chasing fixed-income assets so you have a significant amount of people who always need to be buying bonds,” Ira Jersey, an interest-rate strategist in New York at Credit Suisse Group AG, one of the 21 primary dealers, said in a Sept. 16 telephone interview.
Those buyers include individual investors who want safe investments and central banks who need to hold dollar-based assets because of trade flows, Jersey said. “All of those things have contributed to this demand.”