US treasury to sell $16 billion of 30 year bonds at the top of the hour

The 3 and 10 year auctions were....meh

The US treasury will sell $16 billion of 30 year bonds at the top of hour. The auction will complete this week's refunding which saw "meh" demand for the 3 and 10 year issues.

Some pre-auction statistics and levels:

• High yield at the last auction was 2.607%
• Bid to cover was 2.32x vs the six-month average of 2.25X
• Dealers took 24.1% at the last auction versus six-month average of 26.5%
• Directs took 15.1% at the last auction versus six-month average of 14.6%
• Indirects took 60.8% at the last auction versus six-month average of 58.8%

The current WI yield is trading at 2.615% The yield is up 4 basis points today after the better CPI and claims data.