The US treasury will auction off three year notes at the top the hour. The auction success or failure will be judged against the six-month averages of the major components:
- Tail 0.0 basis points
- Bid to cover 2.62X
- Directs (a measure of domestic demand) 16.8%
- Indirects (a measure of international demand) 67.5%
- Dealers 15.7%
The last auction high yield came in at 4.30%. The current three-year note is trading lower by around 40 basis points at 3.907%:
This article was written by Greg Michalowski at www.forexlive.com.
