Bond Market Update

Treasury Auction Preview

• $22 bln 30-year Treasury bond reopening (results at 13:00 ET):
  • Prior auction results:
    • High yield: 5.046%
    • Bid-to-cover: 2.30
    • Indirect bid: 66.6%
    • Direct bid: 21.7%
  • Average results of previous 12 auctions:
    • High yield: 4.814%
    • Bid-to-cover: 2.39
    • Indirect bid: 64.9%
    • Direct bid: 23.8%