Bid to cover at 2.46 (was 2.54 at the last auction).
The US treasury sold $28B of 7 -year notes at 2.056% with 73.19% allotted at the high.
The Bid to cover came in at 2.46x That is down from the 2.54x at the last auction.
- Primary dealers take 25.16%.
- Awards 9.4% of the 7 year notes to direct bidders
- Awards 65.4% to indirect bidders
Overall, an ok auction.