Bond Market Update

Treasury Auction Preview

• $69 bln 2-year Treasury note auction (results at 13:00 ET):
  • Prior auction results:
    • High yield: 4.204%
    • Bid-to-cover: 2.60
    • Indirect bid: 66.0%
    • Direct bid: 23.1%
  • Average results of previous 12 auctions:
    • High yield: 3.835%
    • Bid-to-cover: 2.61
    • Indirect bid: 58.3%
    • Direct bid: 29.3%
      
      
  •  Yield check:
    • 2-yr: unch at 4.75%
    • 3-yr: unch at 4.82%
    • 5-yr: unch at 4.83%
    • 10-yr: unch at 4.96%
    • 30-yr: unch at 5.30%