U.S. Treasury auctions off 20 year bond at a high yield of 2.144%

WI traded at 2.153% at the auction time

• High yield 2.144%. WI was at 2.153%
• Bid to cover 2.42x vs 2.34x 6 month average
• Dealers 21.09% vs 24.6% vs 6 month average .
• Directs 20.8% vs 6 month average of 16.0%
• Indirects 58.7% vs 6 month average of 59.4%

A good auction. I give it a A- grade.

The Bid to cover was above the average.

The yield was 0.9 basis points below the WI level

Dealers took less than normal indicative of good external demand.