Tomorrow will auction 5 year notes and 7 year note on Thursday
The US treasury will start its 2, 5, 7 year note auction cycle today with the selling of $40 billion of two-year notes at the top of the hour. The current WI 2 year is trading at 1.175%.
The averages over the last 6 months currently shows:
- Bid to cover 2.59x
- Dealers 29.4%
- Indirects 50.4%
- Directs 20.3%
Bids will be submitted at the top of the hour with the results shortly thereafter. The treasury will sell $41 billion of 5 year notes on Wednesday and $32 billion of 7 year notes on Thursday.
