The US treasury auctioned off $58 billion of the 3year notes:
- High yield 3.784%
- WI level at the time of the auction 3.76%.
- Tail versus 2.4 basis points six-month average of +0.4 basis points.
- Bid to cover 2.47X versus six-month average of 2.62X.
- Directs (a measure of domestic demand) 6.2% versus six-month average of 19.3%
- Indirects (a measure of international demand) 73.0% versus six-month average of 64.9%
- Dealers 20.7% versus six-month average of 15.8%
Auction grade D
This article was written by Greg Michalowski at www.forexlive.com.
