US treasury to auction of $54B of 3 year notes at the top of the hour

<p>The US treasury will auction off $54 billion of three year note at the top of the hour. Below are the details of the major components from the last auction and also the six month averages</p><ul><li>High Yield: Previous. 4.105%</li><li>Tail: Previous. -1.1bps, six-auction avg. 0.5bps</li><li>Bid-to-Cover: Previous. 2.67x, six-auction avg. 2.66x</li><li>Dealers: Previous. 17.9%, six-auction avg. 18.8%</li><li>Directs (a measure of domestic demand): Previous. 16.8%, six-auction avg. 19.6%</li><li>Indirects (a measure both international demand) Previous: previous. 65.3%, six-auction avg. 61.6%</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.