Technical Analysis

US treasury auctions off $43 billion and 5 year notes at a high yield of 4.192%

  • WI level at the time will auction was at 4.210%
Greg Michalowski

  • High yield 4.192
  • WI level at the time of auction 4.210%
  • Tail -1.8 vs. six-month average of 1.2 basis points
  • Bid to cover 2.48X vs. six-month average of 2.38X
  • Directs 15.6% vs six-month average of 18.8%
  • Indirects 68.0% vs. six-month average of 61.8%
  • Dealers 16.5% vs 19.4% six month average



The first stop through since July for the 5 year issue. The average of the last 6 points has been +1.2 basis points. The bid to cover was comfortably above the six-month average. The international demand was strong and offset a weaker domestic demand. The dealers were saddled with much less than the average over the last 6 months.

Solid auction.

Most Popular

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button