US treasury to auction off $13 billion of 20 year notes at the top of the hour

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%

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

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