The U.S. Treasury will speed up their coupon auctions this week with the 2 and 5 year note auction's taking place today. Tomorrow, they will auction off the 7 year notes.
The 2 year note auction will take place at 11:30 AM ET. The 5 year note auction will take place at the normal 1 PM ET. For the two-year note, the auction success or failure will be determined by the results versus the 6 month averages for the major components.
- Tail , -0.4 basis points.
- Bid to cover, 2.58X.
- Directs (a measure domestic demand) 30.1%
- Indirects (a measure of international demand 58.4%
- Dealers (they take the balance)11.5%
