US treasury to auction off $37 billion of 10-year notes at 1 PM ET

<p>The U.S. Treasury will next auction off $37 billion of 10-year notes at the top of the hour. Earlier the treasury auctions off through your notes which was met with tepid demand.</p><p>Below is a summary of the previous 6-month averages of the major components used to evaluate demand:</p><ul><li>High Yield: Previous 4.519%, Six-auction average 4.177%</li><li>Tail: Previous 0.8 basis points, Six-auction average 0.9 basis points</li><li>Bid-to-Cover: Previous 2.45x, Six-auction average 2.49x</li><li>Dealers: Previous 15.1%, Six-auction average 14.6%</li><li>Directs (a measure of domestic buyers): Previous 15.2%, Six-auction average 19.0%</li><li>Indirects (a measure of international buyers): Previous 69.7%, Six-auction average 66.4%</li></ul><p>Tomorrow the treasury will finish their coupon auctions with the sale of 30-year bonds.</p>

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