WI yield at auction 3.069%. It to cover ratio 2.39X
The US treasury auctioned off US$31 billion of seven-year notes at 3.074%. That was higher then the 3.069% at the WI auction time, and the highest auction yield since April 2010 (3.21%).
- Bid to cover at 2.39X which was less than last month 3.45X and 3.55X average over the last 6 auctions
- 64.6% awarded to indirect bidders vs 62% prior
- 5.2% awarded to direct bidders vs 12.8% prior
- 30.1% awarded to primary dealers
Another light auction with a tail of 0.005% and bid to cover at the lowest since March 2018
