U.S. Treasury to auction off $15 billion of new 20 year bonds at the top of the hour | Forexlive

The U.S. Treasury will auction off $15 billion of 20 year bonds at the top of the hour. This is a new issue (not a reissue)

The six-month averages of the major components shows:

• bid to cover 2.6X
• Directs (a measure of domestic demand) 17.5%
• Indirects (a measure of international demand) 71.7%
• Dealers (they take the balance) 10.9%
• Tail -0.6 basis points

The last auction had a high yield of 3.678% and a tail of -2.7 basis points. Since then yields have moved higher.