{"id":428905,"date":"2026-03-26T00:40:17","date_gmt":"2026-03-25T17:40:17","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/2026\/03\/the-u-s-treasury-auctions-off-70-billion-of-5-year-notes-at-a-high-yield-of-the-3-980\/"},"modified":"2026-03-26T00:40:17","modified_gmt":"2026-03-25T17:40:17","slug":"the-u-s-treasury-auctions-off-70-billion-of-5-year-notes-at-a-high-yield-of-the-3-980","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/the-u-s-treasury-auctions-off-70-billion-of-5-year-notes-at-a-high-yield-of-the-3-980-428905\/","title":{"rendered":"The U.S. Treasury auctions off $70 billion of 5 year notes at a high yield of the 3.980%"},"content":{"rendered":"<div>\n<ul>\n<li>High yield 3.980%<\/li>\n<li>Wi level at the time of the auction 3.966%<\/li>\n<li>Tail +1.4 basis points versus 6 month average of 0.3 basis points<\/li>\n<li>Bid to cover 2.29X versus 6 month average of 2.36X<\/li>\n<li>Directs (domestic buyers) 22.48% versus 6 month average of 27.5%<\/li>\n<li>Indirects (international buyers) 61.9% versus 6 month average of 61.7%<\/li>\n<li>Dealers 15.61% versus 6 month average of 10.8%<\/li>\n<\/ul>\n<p>AUCTION GRADE; D<\/p>\n<p>Another lackluster and below average auction. The tail was 1.4 basis points versus 0.3 basis points average. The bid to cover was less than the average. Domestic buyers didn&#8217;t show up again, with international buyers around the average. The Dealers were not saddled with nearly 25% like yesterday, but are accepting 15.61% well above the 10.8% average.<\/p>\n<p>                            This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>High yield 3.980% Wi level at the time of the auction 3.966% Tail +1.4 basis points versus 6 month average of 0.3 basis points Bid to cover 2.29X versus 6 month average&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-428905","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/428905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=428905"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/428905\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=428905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=428905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=428905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}