US treasury sells $58 billion of 3- year notes at a high yield of 4.192%

• High yield 4.192%
• WI level at the time of the auction 4.189%
• Bid to cover 2.64X versus average of 2.61X
• Tail 0.3 basis points
• Dealers 15.3% versus average of 13.9%
• Directs 21.01% versus average of 22.2%
• Indirects 63.71% versus average of 63.9%

Auction Grade: C

The mix of the buyers was near the averages as was the bid to cover. The tail was positive 0.3 basis points but given the volatility in the markets, the auction was near the averages.

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