Bond Market Update

Treasury Auction Preview

• $22 bln 30-year Treasury bond reopening (results at 13:00 ET)
  • Prior auction results:
    • High yield: 4.535%
    • Bid-to-cover: 2.39
    • Indirect bid: 66.5%
    • Direct bid: 19.1%
  • Average results of previous 12 auctions:
    • High yield: 4.394%
    • Bid-to-cover: 2.42
    • Indirect bid: 67.1%
    • Direct bid: 17.9%