US treasury to auction $38B of 10 year notes at the top of the hour.
10 year notes trading on WI basis at 1.6725%The U.S. Treasury will complete the second note auction at the top of the hour when the auction off $38 billion of 10 year notes. The current WI is trading at 1.6725%. The last six auctions have seen the following averages:
- Bid to cover 2.39x
- Dealers 24%
- Directs 16.1%
- Indirects 59.9%
The last auction came in at a yield of 1.523%.
The auction yield will be the highest since January 2020 when the yield was at 1.869%