The 2nd leg of the auction calendar this week
At the top of the hour, the U.S. Treasury will auction off $61 billion a five year notes. The auction comes after a OK auction yesterday in two year notes. On Thursday, the treasury will complete the auction process this week through the sale of $62 billion of a seven year notes.
The recent six month averages for the major components include:
- Bid to cover, 2.35X
- Dealers, 24.8%
- Directs, 15.9%
- Indirects, 59.3%.
US yields are lower today with the 10 year currently down around four basis points to 1.2361%. The current 5 year yield is at 0.692%, -2.1 basis points.
