US treasury auctions off $24 billion of 30 year bonds at a high yield of 4.769%
From forexlive.com
US Treasury auctioned off $24B of 30-year bonds • WI level at the time of the auction: 4.716% • Tail 5.3 basis points: 6-auction average 0.9bps, prev. 3.7bps • Bid-to-Cover 2.24X: 6-auction avg. 2.44x, prev. 2.35x • Dealers 24.73%: 6-auction avg. 12.7%, prev. 18.2% • Directs (a measure of domestic demand) 15.16%: 6-auction avg. 18.6%, prev. 16.7% • Indirects (a measure of international demand) 60.11% : 6-auction avg. 68.6%, prev. 65.1% Auction Grade: F • Tail of 5.3 basis points. Ouch. • The bid to cover is below the 6 month average. • The dealers are stuck with 24.73% well above the 6 month average of 12.7%. Ouch. • ...
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