US auctions off $24 billion of 10 year notes at 1.590 %
WI was trading at 1.591% at the auction time
A slightly above average auction, but not by much.
- High yield 1.59% versus 1.591% WI level
- Bid to cover 2.43x versus 2.38x average
- Dealers 28.6% versus 26.2% average
- Directs 12.79% versus 12.7% 6 month average
- Indirects 58.5% versus 61.16 month average
Rick Santelli on CNBC just gave it a C+ (i.e. just above average).