U.S. Treasury auctioned off $60 billion of two year notes at a high yield of 0.152%

WI was trading at 0.159%

• High yield 0.152%
• WI yield at time of auction was 0.159%.
• Bid to cover 2.74x versus six month at 2.53x
• Dealer 24.9% versus six month average of 33.3%
• Indirecxt 57.1% versus six month average of 50.6%
• Directs 18% versus six month average of 16.2%

The U.S. Treasury auctioned off at 60 billion of 2 year notes at a high yield of 0.152%. That compares favorably to the pre-auction WI level of 0.159%.

Dealers were saddled with less than the 33.3% of the auction (only 24.9%). The Indirects, a measure of foreign demand, came in strong at 57.1% vs the six month average of 50.6%.

Overall a strong auction. I give it a grade of A.