The US treasury auctions off $58B of 3-year notes at a high yield of 4.117% | Forexlive

The US Treasury has auctioned $58B of 3 year notes.

Wi level at the time of the auction:4.116%
High Yield: 4.117%
Bid to cover:2.58X vs 6-month average of 2.56X
Tail 0.1 bps vs the 6 month average of 0.0 bps
Directs (domestic buyers) 20.7% vs 6 month average of 17.1%
Indirect (international buyers) 64.2% vs the 6-month average of 66.4%
Dealers 15.1% vs 6-month average of 16.6%

AUCTION Grade: C

The auction came in near the screws vs the WI level of 4.116%. THe yield was just a hair higher at 4.117%. THe Bid to cover was just above its 6-month average. The domestic buyers were larger than normal. The international buyers were a less than average. The Dealers overall were left with a touch less than average.

Overall an average grade for the first of three auctions.

Looking at the yield curve currently: