The U.S. Treasury auctioned off $32 billion of 10 year notes:

  • High-yield 3.455%
  • WI level at the time of the auction 3.435%
  • Tail 2.0 basis points versus six-month average of 0.1 basis points
  • Bid to cover 2.36X vs six-month average of 2.6X
  • Directs 19.9% vs six-month average of 18.7%
  • Indirects 62.3% versus six-month average of 61.4%
  • Dealers 17.1% versus six-month average of 19.9%