Direct investors are outbidding bond dealers for U.S. Treasurys

Wall Street bond dealers have been the major buyers of U.S. Treasurys since 2003, when the government started releasing data on buyers, but the pattern is changing. U.S. banks, mutual funds and foreign central banks purchased 57% of the $1.26 trillion in Treasury notes and bonds auctioned this year. Bloomberg•

Soething is changing in the world! But what prompts this, do you suppose?