The U.S. Treasury will auction off $39 billion of 10 year notes at the top of the hour. The six-month averages of the major components of the auction shows:
Bid to cover 2.56XTail -0.7 basis pointsDirects (domestic buyers) 16.3%Indirects (international buyers) 71.7%Dealers 12.0%
The last auction last month had a high yield of 4.421%
This article was written by Greg Michalowski at www.forexlive.com.