U.S. Treasury to auction off $43 billion of 5-year notes at the top of the hour | Forexlive
The U.S. Treasury will auction off $43 billion of five-year notes at the top of the hour. The six month averages of the major components shows:
- Bid to cover 2.42X
- Directs (a measure of domestic demand), 17.5%
- Indirects (a measure of international demand), 65.9%
- Dealers (they take the rest), 16.6%
The last auction at a high yield of 3.53% with a tail of -2.4 basis points. The bid the cover was a higher than average 2.64X