U.S. Treasury to auction off $62 billion of 7 year notes at the top of the hour

WI is currently trading at 1.2625%

The U.S. Treasury will auction off $62 billion of 7 year notes at the top of the hour. The WI is currently trading at 1.2625%

The six month average is for some of the key components shows:

• Bid to cover 2.27X
• Dealers 24.8%
• Directs 19.1%
• Indirects 56.1%.

The auction last month came in at a high yield of 1.285% with a detail of -0.7 basis points.