The U.S. Treasury is to auction off $60 billion of 2 year notes at the top of the hour

The yield is 0.215%%

The U.S. Treasury will auction of $60 billion of two year notes at the top of the hour. Because of the FOMC decision on Wednesday, the auctions are getting off to a early start today (traditionally the auction would take place on Tuesday).

The six month averages of components shows:

• Bid to cover 2.54x
• Tail 0.0 basis points.
• Dealers, 30.6%
• Directs, 16.7%
• Indirects, 52.7%

The treasury will auction off $61 billion of five year notes tomorrow, and $62 billion of seven year notes on Thursday.