US treasury sells $22B of 30 year bonds at high yield of 1.342% vs WI level of 1.334%

Author: Greg Michalowski | Category: News

WI was trading at 1.334% at the auction time


  • High yield 1.342% versus 1.334% WI level
  • bid to cover 2.3 xversus six-month average of 2.40x
  • dealers 21.4% versus six-month average of 19.8%
  • directs 12.9% versus six-month average 16.5%
  • indirects 65.7% versus average of 63.8%
With a tail of 0.8 basis points, a bid to cover less than the six-month average, dealers being saddled with more than the six-month average of supply, the auction is the worst of the week.  I give it a grade of C-. 
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