U.S. Treasury to auction off $32 billion a 10 year note that the top of the hour

The US treasury will auction off $32 billion of 10 year notes at the top of the hour (9 year 11 month actually)

The six-month average of the major components shows:

• Tail 1.8 bps
• Bid to cover 2.40X
• Directs 19%
• Indirects 62.8%
• Dealers 18.3%

The 3 year auction earlier today was met with decent demand with a -0.3 bp tail and solid demand from international investors.

Looking at the 10 year yield chart, the yield moved back above the 100 day MA on Friday and stalled at the lows near that MA today (at 3.516%. The low yield reached 3.52% today.

/inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term