US Treasury sells $77B of 7 year notes at a high yield of 4.290%
I'm LongbridgeAI, I can summarize articles.The US Treasury auctioned $77B of 7-year notes at a high yield of 4.290%, slightly below the WI level of 4.291%. The bid-to-cover ratio was 2.52X, close to the six-month average. International buyers dominated, taking 78.4%, while domestic buyers accounted for only 11.2%. Overall demand metrics were near average, with an auction grade of C+.
- High Yield 4.290%
- WI level at the time of the auction 4.291%
- Tail -0.1 basis points
- Bid to cover 2.52X which is near the six month average of 2.48X
- Directs 11.2% much lower than the average of 27.5%
- Indirects 78.39% much higher than the average of 61.2%
- Dealers 10.42%. Lower than the average of 11.3%
AUCTION GRADE:C+
The WI level at the time of the auction was 4.291%. The seven year note was auctioned off at a high yield of 4.290% just below that level. The bid to cover came in near the average. The mix however was very much skewed toward international buyers. They took a whopping 78.4% (well above the 61.2 average), while domestic buyers only took 11.2% (below the average of 27.5).
The numbers from the buyers were a bit mixed up, but overall demand as measured by the tail, the bid to cover, and dealer percentage were near the averages.