US treasury is auction of $42 billion of 3 year notes at the 1 PM ET

The US treasury will auction off $42 billion of 3 year notes at 1 PM ET today.

The 6 month averages of the major components shows:

• Bid to cover, 2.47X
• Directs, 18.05%
• Indirects, 58.48%
• Dealers, 23.47%
• Tail 0.1 basis points

Tomorrow the treasury will auction off 10 year notes. On Thursday, they will auction off 30 year bonds

Yields in the US today are higher with the biggest gains in the short end:

• 2 year yield 3.27%, +5.8 basis points
• 3 year yield 3.205, +6.2 basis points
• 10 year yield 2.73%, +2.2 basis points
• 30 year 2.995%, +1.0 basis points