Technical Analysis

US auctions US$24 billion of 10 year notes at 2.466%

WI at the auction deadline was at 2.476%

  • Bid to cover, 2.55x vs 6 month average of 2.46x
  • Primary dealers take 19.63%
  • Directs 12.0% vs 9.1% last month
  • Indirects 68.4% vs 69.4% last month
  • Lowest yield since December 2017

A solid auction with the high yield lower than the WI at auction time by 1 bp. The Bid to cover was also above the 6 month average of 2.46x (was 2.55x).

This despite the yield being the lowest since December 2017. 

Articles You May Like

Gold Prices Eye Bond Yields, US Dollar Response to Earnings Reports
Central bank speakers… how to prepare for them?
Crude oil futures settle at $65.70
EURUSD extends its narrow trading range
Crude Oil Price May Recoil at Chart Barrier as Market Mood Sours

Leave a Reply

Your email address will not be published. Required fields are marked *