Friday , 22 November 2024
Home Forex The US treasury auctions off $25B of 30 year bonds at a high yield of 4.608%
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The US treasury auctions off $25B of 30 year bonds at a high yield of 4.608%

  • High Yield 4.608%
  • WI level at the time of the auction: 4.63%
  • Tail: -2.2 bps vs 6-month average 0.5 bps
  • Bid to cover: 2.64X vs 6 month average of 2.4X
  • Directs (a measure of domestic demand):27.1% vs. 6-month average of 16.58%
  • Indirects (a measure of international demand): 62.7% vs 6-month average of 68.10%
  • Dealers: 10.2% vs 5-month average of 15.32%

Auction Grade: A-

The 30-year coupon auction came in at a high yield of 4.608% which was -2.2 bps from the WI level at the time of the auction.

The domestc bid was huge with 27.1% of the auction going to that sector. That is well above the 16.58% average over the last 6-months. The demand domesticilly crowded out the buyers from overseas which were lower at 62.7% vs 68.10% average. Bid to cover was above the average.

This article was written by Greg Michalowski at www.forexlive.com.

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