US treasury to auction $38B of 3 year notes at the top of the hour

The 3 year WI is trading at 2.445%

The US treasury will auction $38B of 3 year notes at the top of the hour.

• The WI is trading at 2.445%.
• The last auction resulted in a high yield of 2.502%.
• The Bid to cover was at 2.55 times.
• The 6 month average for bid to cover is 2.56 times.
• Indirects were 45.7% last and directs came in at 18.5%.