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

Author: Greg Michalowski | Category: News

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. 

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