The 2nd of three coupon auctions will take place at 1 PM with the auction of $70 billion and 5 year notes at the top of the hour.
The 6-month averages of the major components shows:
- Tail: 0.2 basis points
- Bid to cover 2.36X
- Directs (domestic buyers): 22.1%
- Indirects (international buyers 66.9%)
- Dealers 10.9%
