The US treasury will auction off $37 billion of 7 year notes at the top of the hour

<p>The U.S. Treasury will auction off 37 billion of 7 your notes at the top of the hour. The 6 month averages of the major auction components shows:</p><ul><li><p>High Yield:</p><ul><li>Previous: 4.212%</li><li>Six-auction average: 3.861%</li></ul></li><li><p>Tail:</p><ul><li>Previous: -2bps</li><li>Six-auction average: 0bps</li></ul></li><li><p>Bid-to-Cover Ratio:</p><ul><li>Previous: 2.66x</li><li>Six-auction average: 2.53x</li></ul></li><li><p>Dealers: Dealers take the balance after the domestic and international buying</p><ul><li>Previous: 9.8%</li><li>Six-auction average: 12.1%</li></ul></li><li><p>Directs: A measure of domestic demand</p><ul><li>Previous: 15%</li><li>Six-auction average: 17.9%</li></ul></li><li><p>Indirects: A measure of international demand</p><ul><li>Previous: 75.3%</li><li>Six-auction average: 70.0%</li></ul></li></ul>

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