The auction calendar for the week will begin today with the sale of 44 billion of two year notes. The auction will take place at the top of the hour
The six-month averages of the major components shows six-month
- bid to cover 2.59X
- Tail -0.3 basis points
- Directs (a measure of domestic demand) 17.4%
- Indirects (a measure of international demand) 60.4%
- Dealers (they take the rest) 17.4%
The treasury will auction off $45 billion of five year notes tomorrow and $37 billion a seven year notes on Thursday
