The U.S. Treasury will auction off $12 billion of 20 year bonds at the top of the hour.
The six-month averages of the major components shows:
- Bid to cover, 2.71X.
- Tail, -1.1 basis points
- Directs (a measure of domestic demand), 18.5%
- Indirects (a measure of international demand), 71.8%
- Dealers, 9.7%
The current WI is trading at 4.036%. The last auction at a high yield of 4.010%