US treasury auctions off $70 billion of five year notes at a high yield of 4.197%

• High yield 4.197%
• Tail -0.2 basis points versus six-month average of 0.7 basis points
• Bid to cover 2.43X vs six-month average of 2.37X
• Directs 24.58% versus six-month average of 16.0%
• Indirects 64.12% versus six-month average of 69.7%
• Dealers 11.3% vs six-month average of 14.3%

This article was written by Greg Michalowski at www.forexlive.com.