$30 Billion auctioned
The US auctioned $30B of 7 year notes at 2.93%. That was right on the WI yield level.
- The bid to cover came in at 2.49x vs 2.53x at the last auction
- Directs were awarded 12%
- Indirects were awarded 64.6%
- 23.4% were awarded to dealers.
- The Bid to cover was the lowest since March (when it was at 2.34x)
A "ham and cheese" auction. Bid to cover was light. Came in as expected.
