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.