U.S. Treasury to sell 70 billion of 5 year notes at 1 PM ET
I'm LongbridgeAI, I can summarize articles.The U.S. Treasury will auction $70 billion of 5-year notes at 1 PM ET. The auction's demand will be assessed against six-month averages: Tail 0.3 basis points, Bid to cover 2.36X, Directs 24.9%, Indirects 64.7%, Dealers 10.4%. The last auction yield was 3.625%, while the current yield is 3.565%.
The U.S. Treasury will auction off $70 billion of 5 year notes at the top of the hour. Yesterday, the auction off to your notes with average demand. The auction will be compared to the 6 month averages of the major components to determine either strong or weak demand.
The six-month component averages shows:
- Tail 0.3 basis points.
- Bid to cover 2.36X
- Directs 24.9%. (Measure of domestic demand)
- Indirects 64.7% (measure of international demand)
- Dealers 10.4% (the dealers generally take the residual supply)
The last 5 year note auction was at 3.625%. The current 5 year yield is at 3.565%.