The U.S. Treasury will auction off $46 billion of the 3 are not at the top of the hour. The key components of the previous and the 6 month averages of those components are found below. Traders will use the six-month averages to gauge demand from domestic/international investors.
- High Yield:
- Previous: 4.660%
- Six-Auction Average: 4.217%
- Tail:
- Previous: 1bps
- Six-Auction Average: -0.6bps
- Bid-to-Cover:
- Previous: 2.75x
- Six-Auction Average: 2.79x
- Dealers:
- Previous: 20.2%
- Six-Auction Average: 14.8%
- Directs: (a proxy for domestic demand)
- Previous: 22.1%
- Six-Auction Average: 19.0%
- Indirects: (a proxy for international demand)
- Previous: 57.7%
- Six-Auction Average: 66.2%