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Home.forex news reportUS treasury to sell $58B of 3-year notes at the top of...

US treasury to sell $58B of 3-year notes at the top of the hour

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The first of 3 coupon auctions for the week will start today at 1 PM when the US treasury auctions off $58 billion of 3-year notes. The treasury will auction off 10-year notes tomorrow and 30-year bonds on Thursday.

The note auction success (or failure) will be judged by the results vs the 6 month averages of the major components.

Last month the 3 year auction went near the averages.

  • High Yield:

    • Previous: 3.81%

    • Six-auction average: 4.3m

  • Tail:

    • Previous: -0.2tps

    • Six-auction average: 0.1bps

  • Bid-to-Cover:

    • Previous: 2.55x

    • Six-auction average: 2.56x

  • Dealers:

    • Previous: 15.4%

    • Six-auction average: 16.4%

  • Directs (a measure of domestic demand):

    • Previous: 20.3%

    • Six-auction average: 18.8%

  • Indirects (a measure of international demand):

    • Previous: 64.4%

    • Six-auction average: 64.7%

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

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