US treasury auctions $15 billion of 20 year bonds at a high yield of 3.954%

The US treasury auctioned off $15 billion a 20 year bonds:

• 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 3.954%
• WI level at the time of the auction 3.964%
• Tail -1.0 basis points versus six-month average of -1.0 basis points
• Directs (a measure of domestic demand 18.1%) versus six-month average of 18.0%
• Indirects (a measure of international demand) 70.6% versus six-month average of 72.5%
• Dealers 11.3% versus six-month average of 9.5%

Auction grade: C-

There was a negative tail but it equaled the six-month average. The bid Bid In a market, a bid is a price at which a buyer is willing to purchase a specific security, such as a currency, stock or bond. It is the highest price that a buyer is willing to pay for a security. Bids are typically made by market participants such as investors and traders, and are usually entered into an electronic order book or trading platform.When a market participant is looking to buy a security, they will typically place a bid at a certain price. If there are multiple buyers looking to pur In a market, a bid is a price at which a buyer is willing to purchase a specific security, such as a currency, stock or bond. It is the highest price that a buyer is willing to pay for a security. Bids are typically made by market participants such as investors and traders, and are usually entered into an electronic order book or trading platform.When a market participant is looking to buy a security, they will typically place a bid at a certain price. If there are multiple buyers looking to pur Read this Term to cover was below the average. Dealers took more because the indirect was less than average.