US treasury to auction $38 billion of 10 year notes at the top of the hour

U.S. Treasury to auction $38 billion of 10 year notes at the top of the hour. The six-month averages of the major components shows:

• Bid to cover 2.55X
• Tail -0.1 basis points
• Dealers 13.1%
• Directs 17.0%
• Indirects 69.9%

The last auction high yield came in at 4.235%. The current 10 year yield is currently much higher at 4.678%

This article was written by Greg Michalowski at www.forexlive.com.