- Tail 6-auction average of -0.8bps.
- Bid-to-Cover 6-auction average of 2.53x.
- Dealers 6-auction average of 12.2%.
- Directs (a measure of domestic demand) 6-auction average of 17.7%.
- Indirects (a measure of international demand) 6-auction average of 70.1%.
The last auction had a high yield of 3.749% with a tail of -1.4 basis points. The bid to cover was higher than the 6 month average at 2.58X as well.
The U.S. Treasury will finish their auction coupon issues tomorrow with the sale of 7-year notes. The two-year note auction yesterday was met with strong demand from international buyers.
