Technical Analysis

US treasury auctions off $43 billion a five year notes at a high yield of 3.53%

  • WI level at the time of the auction 3.554%
Greg Michalowski

Auction Grade: A

Once again, the international demand comes to the rescue taking 11% more than the 6 month average. The Domestic demand was marginally lower. Dealers have a low 8.8% of the leftovers.

Bid to cover is strong. The tail is aggressive at -2.4 bps.

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