Bid to cover weak at 2.26x vs 2.74x at the last auction
- Highest yield since March 2017
- US auctions 30 year bond at 3.121%. That was above the WI price of 3.109% just before the auction
- The bid to cover was light at 2.26 versus 2.74 at the last auction
- US awards 30.8% of 30 year bonds to primary dealers
- US awards 61.2% to indirect bidders
- US awards 8.1% to direct bidders
- the bid to cover was the lowest since November
Not the best of auctions this week. The demand for each of the issues was tepid. The yield after the auction is remaining steady at 3.12%.
