U.S. Treasury to auction off 2 and 5 year notes today

The U.S. Treasury will speed up their coupon auctions this week with the 2 and 5 year note auction’s taking place today. Tomorrow, they will auction off the 7 year notes.

The 2 year note auction will take place at 11:30 AM ET. The 5 year note auction will take place at the normal 1 PM ET. For the two-year note, the auction success or failure will be determined by the results versus the 6 month averages for the major components.

• Tail , -0.4 basis points.
• Bid to cover, 2.58X.
• Directs (a measure domestic demand) 30.1%
• Indirects (a measure of international demand 58.4%
• Dealers (they take the balance)11.5%

This article was written by Greg Michalowski at investinglive.com.