The third of the 3 coupon auctions will take place at 1 PM when the US treasury auctions off $25 billion of 30 year bonds.
The results of the auction will be compared to the components 6 month averages including:
- Bid to cover, 2.36X
- Tail, 0.3 basis points
- Directs (a measure of domestic demand) 26.0%
- Indirects (a measure of international demand) 61.6%
- Dealers 12.4%
The 3 year note auction on Monday was met with strong demand from both domestic and international buyers. The 10 year note auction was met with average demand.
