US treasury to auction off $35 billion to 7 your notes at the top of the hour

<p>The U.S. Treasury will auction off $35 billion of 7 your notes at the top of the hour. The six-month averages of the major components of that auction shows :</p><ul><li>Tail six-auction average of 0.3bps.</li><li>Bid-to-Cover six-auction average of 2.51x.</li><li>Dealers six-auction average of 12.7%.</li><li>Directs six-auction average of 18.9%.</li><li>Indirects six-auction average of 68.4%.</li></ul><p>The last auction was at a high yield of 3.827% with a tail of -0.8 basis points and a bid to cover of 2.61X. </p><p>The international indirect bids were higher than the six-month average at 72.3% versus 68.4%. </p><p>The domestic bid was less than the six-month average at 17.3% versus 18.9%.</p>

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