US treasury auctions $70B of 5 year at a high yield of 3.625%

High yield 3.625%WI level at the time of the auction 3.626%Tail -0.1 basis points vs 0.1 basis pointsBid to cover 2.38X vs 2.35XDirects 23.9% vs 6-month average 25.1%Indirects 66.8% vs 6-month average 64.2%Dealers 9.3% vs 6 month average 10.7%

AUCTION GRADE: C

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