US treasury to auction off $29 billion of 10 year notes at the top of the hour

WI 10 year yield is trading at 0.666%

The US treasury is auction off 29 billion of 10 year notes at the top of the hour. The current WI is trading at a devilish 0.666%.

• The last auction yield came in at 0.832%
• bid to cover has averaged 2.46x over the last 6 auctions
• dealer cover has averaged 27% over the last 6 auctions
• direct participation has average 13.1% over the last 6 auctions
• Indirect participation has average 59.9% over the last 6 auctions

Tomorrow the treasury will finish its auction schedule for the week with the sale of $19 billion of bonds of 30 year bonds.

Yesterday, the treasury auctioned off $46 billion of 3 year notes at 0.1900%. That was just above the 0.189% WI level. The bid to cover was just off the six-month average as well at 2.44x (vs average of 2.43x).