US auctions $22B of 10 year notes at 2.962%

Bid to cover at 2.59x vs 2.56x at the last auction

The 10 year note auction came in at 2.962% which was a little lower than the WI at 2.965%. The last auction came in at 2.995%. This is reopening of that issue.

• The bid to cover came in at 2.59x vs 2.56x
• Indirects accepted 56.0% vs 63.0% last
• Direct accepted 16.3% vs 8.3% last. The direct bidders is the biggest since May 2015