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U.S. Treasury sells $53 billion of 3 year notes at a high yield of 4.659%

High yield 4.659%WI level at the time of the auction 4.648%Tail 1.1 basis points vs 0.1 6-month averageBid to cover 2.43X vs 2.57X vs 6-month averageDealer 19.9% vs 18.52% 6-month avereageDirects 15.9% vs 18.7% 6 month averageIndirects 64.14% vs 63.2% 6-month average


The domestic demand was very small. The international tried to make up for it, but it was not enough. The tail was 1.1 basis points well above the 6-month average.

The treasury will auction off 10 year notes tomorrow and 30-year bonds on Thursday

Looking at the current yield curve:

2-year yield 4.888%, +1.9 basis points5-year yield 4.492%, +4.1 basis points10 year yield 4.478%, +5.1 basis points30-year yield 4.605%, +5.8 basis points

This article was written by Greg Michalowski at www.forexlive.com.

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