The U.S. Treasury will auction off $13 billion of 20-year notes at the top of the hour. The major components of the auctions and the 6-month averages shows:
- High Yield:
- Previous: 4.499%
- Six-auction average: 4.055%
- Tail:
- Previous: 0.9bps
- Six-auction average: -0.2bps
- Bid-to-Cover:
- Previous: 2.56x
- Six-auction average: 2.64x
- Dealers:
- Previous: 11.4%
- Six-auction average: 10.7%
- Directs: a measure of domestic demand
- Previous: 20.2%
- Six-auction average: 19.7%
- Indirects: a measure of international demand
- Previous: 68.4%
- Six-auction average: 69.7%