The US treasury will be auctioning off two-year notes at the bottom of the hour. They also auction with a 5 year notes at 1 PM ET.
The six-month averages for the major components shows:
- Tail +0.5 basis points
- bid to cover 2.55X
- Directs 22.5%
- Indirects 56.6%
- Dealers 21%
The high yield last month came in at 4.46%. The current 2 year note yield is 4.533%.
