The U.S. Treasury will auction off $13 billion of 20 year bonds at the top of the hour (re-open). The
- High Yield: previously 4.213%
- Tail: Previous 1.5 bps, six-auction average -0.3 bps
- Bid-to-Cover Ratio: Previous 2.55x, six-auction average 2.58x
- Dealers: Previous 12.9%, six-auction average 10.6%
- Directs (a measure of domestic demand): Previous 20.7%, six-auction average 20.0%
- Indirects (a measure of international demand: Previous 66.4%, six-auction average 69.4%
