The U.S. Treasury will auction off $35 billion of 7 your notes at the top of the hour. Below are the last and the six-month averages of the major components for comparison.
- High Yield: previously at 3.839%, with a six-auction average of 3.739%
- Tail: previously at -1.1bps, with a six-auction average of -0.0bps
- Bid-to-Cover: previously at 2.65x, with a six-auction average of 2.54x
- Dealers: previously at 8.1%, with a six-auction average of 11.4%
- Directs (a measure of domestic demand): previously at 16.6%, with a six-auction average of 19.0%
- Indirects (a measure of international demand): previously at 75.3%, with a six-auction average of 69.6%
Yields are higher today as a result of the better US data. Will that attract buyers at higher yields? Or will the stronger data keep investors on the sidelines? We will find out soon.
- 2-year yield is at 4.913%, up 8.7 basis points
- 5-year yield is at 4.187% up 10.1 basis points
- 10-year yield is at 3.9483% up 9.7 basis points
- 30-year yield is at 4.001% up 7.4 base pairs