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US treasury auctions off $70 billion of 5-year notes at a high yield of 4.138%

High yield 4.138

WI yield st the time of the auction 4.122

Tail 1.6 basis point 6-auction avg. 0.5bps

Bid-to-Cover 2.39X vs 6-auction avg. 2.37x

Dealers 14.2% vs 6-auction avg. 14.4%

Directs (a measure of domestic demand) 9.50% vs. 6-auction avg. 17.6%

Indirects (a measure of international demand) 76.4% vs 6-auction avg. 68.0%

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

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