US treasury sells 5 year notes at a high yield of 1.570%

WI was at 1.574%

the US treasury has sold 41 billion of 5 year notes at a high yield of 1.57%. That is just below the WI level at the time of auction of 1.574%.

• Bid to cover comes in at 2.41x versus six-month average of 2.37x
• Dealers take 22.8% versus six-month average of 25.3%
• directs take 11.5% versus six-month average of 16.7%
• indirects take 65.7% versus six-month average of 58.0%

Overall another decent auction (B-) with the yield trading through the WI level and the bid to cover slightly above the six-month average.