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US treasury sells $75 billion 3 year notes at a high yield of 4.291%
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High yield 4.291%WI level at the time of the auction 4.296%Tail -0.5 basis points versus average of 0.0%.
Bid to cover 2.71X versus 6 month average of 2.61XIndirects (overseas buyers) 64.2% versus average of 64.3%Directs 24.0% versus average of 21.7%Dealers 11.8% versus average of 13.9%AUCTION GRADE B+Solid demand with a negative detail.
The indirect were near the average reflective of the international demand.
The 10 year yield is down -1.4 basis points at 4.684%, and the 30 year yield is down -1.0 basis points at 5.232%.
Tomorrow, the CPI data will be released and will be a key data point although there will be one additional CPI data point before the September rate meeting.