U.S. Treasury auctions off 13 million of 20 year bonds at a high yield of 4.942%

• High-yield 4.942%
• WI level at the time of the auction 4.942%
• Tail 0.0 basis points versus six month average of 0.1 basis points
• Bid to cover 2.68X vs six month average of 2.59X
• DIrects (domestic demand) 19.9% versus six month average of 18.1%
• Indirects(proxy for international demand 66.7% versus six month average of 67.2%
• Dealers (they take the residual) 13.4% versus six month average of 14.8%.

AUCTION GRADE: C+

Close to a C, but feeling generous.

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