US treasury auctions of $13 billion of 20 year bonds at a high yield of 4.590%

The US treasury auctioned off $13 billion of 20 year bonds:

High yield 4.590%WI level at the time of the auction 4.574%Tail +1.6 basis points vs six-month average -0.62 basis points (although the last election was 2.0 basis points)Bid to cover 2.59Xvs six-month average 2.63XDirects 17.64% vs six-month average 16.93%Indirects 67.87% vs six-month average 72.78%Dealers 14.5% vs six-month average 10.29%.

AUCTION GRADE:

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