Bid to cover 2.83x vs 2.70x last
The US treasury sold $24B of 3 year notes at a high yield of 1.657%.
- The yield is the highest since April 2010
- The bid to cover was at 2.83x vs 2.70x last
- 54.3 on indirects
- 7.1% on directs
- Dealers take 38.6%
IN about 90 minutes the treasury will auction 10 year notes.
The reason the treasury is auctioning both 3s and 10s is because of the Columbus Day holiday on Monday.
