it to cover ratio 3.22 vs 2.52 at the last auction
- US awards 15.9% of two-year notes to direct bidders
- US awards 25.8% 2-year notes to primary dealers
- US awards 58.3% of two-year notes to indirect bidders
- The bid to cover at 3.22 is the highest since September 2015
- The yield is the highest since October 2008.
The higher yield has attracted strong demand. The 2 year auction yields have move up from 0.75% in September 2016. The low auction yield in 2017 was 1.21%.
Globally, 2.066% compare very favorably to:
- Germany at 0.588%
- UK 0.568%
- Japan -0.14%
- Italy -0.311%
