WI was at 3.138%

  • US 30Y high yield 3.13%. That was lower than the 3.138% WI rate just before the auction
  • The Bid to cover came in at 2.38x, just below the 6 month average of 2.41x and last auctions 2.41s
  • 62.7% of thirty-year bonds to indirect bidders
  • 28.9% of thirty-year bonds to primary dealers
  • yield is the highest since March 2017
  • indirect bidders are the highest since January

A good auction. Not great. Not bad, just good.