U.S. Treasury to auction off $54 billion of 2-year notes that the bottom of the hour

<p>The U.S. Treasury will auction off $54 billion of it to your notes at the bottom of the hour. The auction is the 1st of 2 coupon auctions scheduled for today. The U.S. Treasury will also auction off 5 year notes at 1 PM ET. </p><p>The previous major components and the 6-month averages of the major components of the 2-year note auction shows:</p><ul><li>Tail: Previous 0.0 basis points, with a six-auction average of -0.4 basis points.</li><li>Bid-to-Cover Ratio: Previous 2.64x, against a six-auction average of 2.79x.</li><li>Dealers: Previous 17.6% in the current auction, compared to a six-auction average of 15.6%.</li><li>Directs: Previous&nbsp; 20.3%, compared to a six-auction average of 19.2%.</li><li>Indirects: Previous 62.0%, slightly lower than the six-auction average of 65.2%.</li></ul>

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