Bond Market Update

Treasury Auction Preview

• $22 bln 30-year Treasury bond reopening (results at 13:00 ET)
  • Prior auction results:
    • High yield: 4.748%
    • Bid-to-cover: 2.33
    • Indirect bid: 65.1%
    • Direct bid: 18.6%
  • Average results of previous 12 auctions:
    • High yield: 4.484%
    • Bid-to-cover: 2.43
    • Indirect bid: 66.5%
    • Direct bid: 18.5%