Tail -0.9 basis points
The US treasury sold $51 billion of 5 year notes at a high yield of 0.298%. That was lower than the WI level of 0.307%.- High yield 0.298% vs. WI at 0.307%
- Bid to cover 2.71x vs six-month average of 2.48x
- Dealers 17.82% vs. 27.8% six-month average
- Directs 15.93% vs. 13.6% six-month average
- Indirects 66.25% vs. 58.6% six-month average
Another stellar auction with high demand as traders/investors park funds into the relative safety of the US debt market ahead of the November election.
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