Bond Market Update

Treasury Auction Preview

• $22 bln 30-year Treasury bond reopening (results at 13:00 ET)
  • Prior auction results:
    • High yield: 4.623%
    • Bid-to-cover: 2.37
    • Indirect bid: 60.5%
    • Direct bid: 22.7%
  • Average results of previous 12 auctions:
    • High yield: 4.522%
    • Bid-to-cover: 2.42
    • Indirect bid: 66.2%
    • Direct bid: 18.8%