US treasury sells $32 billion of 7 year notes at 2.68%

Bid to cover at 2.46x vs 2.55x at last auction

The US treasury sold $32 billion of 7-year notes in a high yield of 2.68%. A total of 27.75% of the bids were at the high.

• the Bid to cover ratio 2.46x vs 2.55x at the last auction
• the high-yield at the auction was more than one basis point below it's 1 PM when issued level
• Directs take 14.6%
• Indirects take 67.4%
• Primary dealers awarded 18%