Up from Septembers 1.813% auction
The US treasury auctioned off 29 bln of 7 years notes at a high yield of 1.885%.
The Bid to cover ratio came in at 2.55. This was higher than the 2.51 seen in September. The dealers took 23.67% which was the lowest on record. Direct bidders took 13.99% (recent average is 11.5%) and indirect bidders took 62.34%.
The high yield was less than 1 BP below it's 1 PM auction level.
