One good auction on Monday (three-year note auction). One bad auction on Tuesday (10 year note).
Today the final coupon auction will take place with the sale of $22 billion of 30 year bonds at 1 PM ET. The six-month averages of the major components shows:
- Tail: 1.3 basis points.
- Bid-to-cover: 2.38x
- Directs (domestic buyers): 16.9%
- Indirect (international buyers). 66.1%
- Dealers: 17.0%
Last month the auction came in at 4.36%. The six-month average is at 4.481%.
