U.S. Treasury to auction off $70 billion of five-year notes at the top of the hour

What is the breakdown of the major components over the last six months?

The U.S. Treasury will auction off $70 billion of five-year note at the top of the hour. The success or failure of the auction will be dependent on the components and their relationship to the six month averages. More specifically:

Tail 0.5 basis points
Bid to Cover 2.36X
Directs 17.9%
Indirects 65.8%
Dealers 15.3%

The last option high-yield was at 4.331% which also had a negative tail of -0.4 basis points. THe Bid to cover was near the average at 2.35X