The US treasury will reopen and sell $19 billion of 29 year 11 month bonds at the top of the hour.
The 6 month averages of the major components show:
- Bid to cover 2.33X
- Directs, 15.8%
- Indirects, 66.7%
- Dealers, 15.8%
The last auction came in at a high yield 2.997% with a tail of -0.9 basis points below the WI level at the time of the auction. The six-month average of tails is 0.4 basis points.
On Tuesday and Wednesday, the treasury auctioned off 3 year notes and 10 year notes. Each was met with soft international demand.
