<p>The U.S. Treasury will auction off $43 billion a five year notes at the top of the hour. The six with averages of the major components shows:</p><ul><li>Tail 0.4 basis points.</li><li>Bid to cover 2.39X.</li><li>Directs (a measure of domestic demand) 17.8%.</li><li>Indirect (a measure of international demand) 64.3%</li><li>Dealers (they take the rest) 17.9%</li></ul><p>The last auction came in at 3.973% with a +0.4 basis point tail</p>
This article was written by Greg Michalowski at www.forexlive.com.
