Bid to cover at 2.35X

The US treasury sold $41 billion of 5 year notes at a high yield of 1.791%. That was above the 1.785% pre-sale when-issued yield.

  • Bid to cover 2.35x. That is at the six-month average of 2.35x
  • Directs take 19.7% versus six-month average of 16.4%
  • Indirects take 57.1% versus six-month average of 58.2%
  • Dealers take 23.18% versus 6 month average of 25.4%