Medium term yields for to session lows ahead of the auction
The US will auction $28B of 7 year notes at the top of the hour.
The current WI yield is at 2.15%. That is near the low for the day.
The bid to cover at the last auction came in at 2.46X. That is near the middle of the recent ranges.
The last auction was issued at 1.941%. With the yield higher, we might expect some more demand.
In the other maturities currently:
- 2 year is 1.4548%, down 1.6 bp
- 5 year 1.9046%, unchanged
- 10 year 2.3157%, up 0.5 bp
- 30 year 2.875%, up 1.1 bp
