U.S. Treasury auctions off $40 billion of 10 year notes at a high yield of 3.695%

• High-yield Yield A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as Read this Term 3.695%
• WI level 3.723%
• Tail -2.8 basis points versus six-month average of -0.1%
• Bid to cover Cover When a trader says he or she is going to "cover," it typically refers to the act of closing out a short position in a security, stock, or forex position. Short selling is a trading strategy where a trader borrows shares or securities and sells them in the market with the expectation that the price will decline. If the price does indeed drop, the trader can buy back the shares at a lower price, return the borrowed shares to the lender, and pocket the difference as profit.To "cover" a short positi When a trader says he or she is going to "cover," it typically refers to the act of closing out a short position in a security, stock, or forex position. Short selling is a trading strategy where a trader borrows shares or securities and sells them in the market with the expectation that the price will decline. If the price does indeed drop, the trader can buy back the shares at a lower price, return the borrowed shares to the lender, and pocket the difference as profit.To "cover" a short positi Read this Term 2.93X versus six-month average of 2.60X
• Directs 13.66% versus six-month average of 18.9%
• Indirects 73.35% versus six-month average of 62.7%
• Dealers 12.99% versus six-month average of 18.4%

Highlights:

The 3 year note auction was met with very strong international demand. Domestic demand was actually less than the six-month average. The combination left the dealers with much less than the average over the last 6 months which is good.

Overallauction grade: A