US treasury to $32 billion a 10 year notes that the top of the hour

<p>The US treasury will auction off $32 billion of 10-year notes at the top of the hour. The 6-month averages of the major auction components for the issue show:</p><ul><li>Bid to cover 2.38X</li><li>Tail 1.8 basis points</li><li>Directs (a measure of domestic demand) 20.0%</li><li>Indirects (a measure of international demand) 61.8%</li><li>Dealers (they take the rest) 18.2%</li></ul><p>At the last auction, the high yield came in at 3.791%. The tail was 1.5 basis points and the bid the cover was 2.36X.</p>

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