The US treasury will auction off $70 million and five year notes at the top of the hour. The six-month average of the major components shows
Bid to cover: 2.38XTail: 0.3 basis pointsDirects (domestic demand): 17.4%Indirects (international demand): 68.0%Dealers: 14.6%
The auction results will be compared to the six-month averages to determine overall demand.
This article was written by Greg Michalowski at www.forexlive.com.
