US auctions off 7 year note at a high yield of 0.680%

WI was at 0.707%

The US treasury auctioned off $32 billion of 7 year notes at a high yield of 0.680%. That was much better than the 0.707% WI level at the time of the auction.

• The auction stopped through by 2.7 basis points
• bid to cover 2.76x vs 2.45x at the last 6 auctions
• Dealers took 28.55% vs 21.1% over the last 6 auctions
• Directs 9.09% versus 15.5% over the last 6 auctions
• Indirects 62.35% vs 63.5% over the last 6 auctions

Overall a very good auction with strong demand.