The US treasury to auction off $12 billion of 20 year bonds at the top of the hour

The U.S. Treasury will auction off $12 billion of 20 year bonds at the top of the hour.

The six-month averages of the major components shows:

• Bid to cover, 2.71X.
• Tail, -1.1 basis points
• Directs (a measure of domestic demand), 18.5%
• Indirects (a measure of international demand), 71.8%
• Dealers, 9.7%

The current WI is trading at 4.036%. The last auction at a high yield of 4.010%