US treasury to auction off $16 billion

The US treasury will reopen and auction $16 billion of 29 year 11 mo. bonds at the top of the hour. The current WI for the issue is at 2.32%.

The recent history shows:

  • High yield last auction 2.43%. The 6 month averages 2.409%
  • Bid to ask six-month average is up 2.23x
  • Directs six-month average is 16.1%
  • Indirects six-month average is 58.3%
  • Dealers 6 month averages 25.6%.

The US yields are up sharply today on the back of hope for a US/China trade agreement. The 30 year bond is up 9.77 basis points or 4.36% higher.