Bid to cover is the highest since 2015 at 3.15X
- The US sold $24 billion on 3 year notes at 1.932%
- The bid to cover ratio - an indication of investor demand - came in at 3.15x. That was the highest since September 2015
- primary dealers took 33.6% of the total, down from 36.8% over the last 10 auctions
- indirect bidders purchase 59%. That was the most since August.
- Direct bidders bought 7.4%
Overall, a good auction with strong investor demand.
