US treasury to auction off $43 billion a 5 year notes at the top of the hour

<p>The U.S. Treasury will auction off a $43 billion of five-year notes that the top of the hour. The option is the 2nd of 3 coupon auctions this week. Yesterday they auctioned off to your notes with moderate demand.</p><p>The six-month averages of the major components of the 5 year note auctions shows:</p><ul><li>bid to cover 2.54X</li><li>Tail, -0.7 basis points.</li><li>Directs,, 17.9%.</li><li>Indirects, 70.7%.</li><li>Dealers 11.4%.</li></ul><p>The last auction had a high yield of 4.019% with a tale of 0.7 basis points and a bid to cover of 2.52X</p>

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