U.S. Treasury auctioned off $36 billion of 10 year notes at a high yield of 2.943%

• High yield Yield A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as Read this Term 2.943%
• WI level ahead of the auction was 2.929%
• Bid to cover 2.49X versus 2.48X 6 month average
• Tail 1.4 vs the six month average of 0.5 basis points
• Directs 18.21% vs six month average of 16.6%. Directs are a measure of domestic demand.
• Indirects 70.3% vs six month average of 69.2% Indirects are a measure of international demand
• Dealers 11.49% vs six month average of 14.2%. The dealers take the r

Auction grade: C-

The bid the cover was average. The directs and in directs were above average, but that came at the concession of a 1.4 basis point tail which was above the six month average of 0.5 basis points.