Bid to cover 2.38x vs 2.38x last auction
The US auctioned off the reopened 29 year and 11 month bonds at 3.10%. That is lower than the 3.13% at the auction last month.
- The bid to cover came in at 2.38x vs an identical 2.38x last month. The high over the last 12 months was 2.74x. The lowest was 2.21x.
- Awards 10.3% to direct bidders vs 8.3% last month
- Awards 62.2% to indirect bidders vs 62.7% last month
- Awarded 27.5% to primary dealers
An ok auction.
The chart below is the history of 30 year auctions. The yield is near the highs for the auctions going back to the end of 2014.
