US sells 5-year notes at 3.665% vs 3.675% WI | Forexlive

• Prior was 4.109%
• Bid-to-cover 2.48 vs 2.48 prior
• Indirects 68.58% vs 69.9% prior
• Direct 18.2% vs 19.0% prior

This is is a welcome change after yesterday’s poor 2-year sale. There was a concession being built into the market for the past few hours so it’s not a huge surprise.