- High yield 4.844%
- WI level at the time of the auction 4.859%.
- Tail -1.5 basis points versus the six month average of up +0.1 basis points.
- Bid-to-cover 2.43X vs six month average of 2.39X
- Directs (domestic buyers) 23.4% versus six month average of up 22.3%
- Indirects 65.2% versus six month average of 63.2%
- Dealers 11.4% versus six month average of 14.4%
AUCTION GRADE: A-
The 30 year bond was met with solid demand with international buyers leading the charge. The indirect buyers took 65.2% comfortably above the 63.2% average. The dealers were left with only 11.4% while below the 14.4% average.
They bid to cover was slightly higher than average which was the only drawback. Buyers bid through the WI level by -1.5%.
The 30-year yield has extended its decline. It is down by -7.1 basis points at 4.839%
US stocks are pushing higher on the better results. The NASDAQ index is now up 62 points or 0.32% at 19678.17. The S&P index is up 19 points or 0.32% at 6042. The Dow is up 55 points or 0.13% at 42920.75.
The broader stock indices are still off their highest levels of the day. The S&P reached a high of 6044.67. The NASDAQ index reached a high of 19690.61. The Dow did extend to a new intraday high, however.
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