US treasury to auction off $45 billion of 3 year notes at the top of the hour

The US treasury will auction off $45 billion of 3 year notes today at 1 PM ET. They will continue the auction process tomorrow with the $36 billion of 10 year notes and conclude on Thursday with $22 billion of 30 year bonds.

The 6 month averages of the major components of the 3 or auction show:

• Bid to cover, 2.43X
• Directs (a measure of domestic demand), 16.5%
• Indirects (a measure of international demand), 58.1%
• Dealers, 25.4%

The last auction had a high yield of 2.738% with a tail average of 0.2 basis points over the last 6 months.

Yields today are lower in the US;

• 2 year 2.608%, -1.2 basis points
• 5 year 2.890% -9.2 basis points
• 10 year 2.951%, -12.7 basis points
• 30 year 3.074%, -13.3 basis points

The current 3 year yield is trading at 2.792%, -4.5 basis points.

/inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term