February 24, 2025 at 06:06PM
High yield 4.169%
WI level at the time of the auction 4.18%
Bid to cover 2.56X vs six-month average of 2.66x
Tail -1.1 basis points vs. six-month averages -0.3 basis points
DIrects 7.64% vs six-month average of 18.3 basis points
Indirects 85.49% versus six-month averages 68.9%
Dealers 6.87% versus 6-month average of 12.8%
The auction was top-heavy with international demand. They took a whopping 85.49%, well above the 68.9% six-month average. Dealers were left with a low 6.87%. The domestic buyers were squeezed out and only got 7.64%.
US treasury will auction off 5-year notes tomorrow, and 7-year notes on Wednesday.
This article was written by Greg Michalowski at www.forexlive.com.
US treasury sells $69 billion in two year notes at a high yield of 4.169%
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