6 month Bid to cover average 2.46x

The US treasury will auction off US$24 billion a 10 year notes at the top of the hour.

The current WI is trading at 2.47%

The last auction had a high yield of 2.615% and the bid to cover was 2.59x. Other numbers included:

  • Directs accepted, 9.1%
  • Indirects accepted, 69.4%
  • Dealers took 21.5%
  • The six-month average for bid to cover is 2.46x