US treasury sells $44B of 7-year notes at a high yield of 4.473%

High yield 4.473%WI level at the time of the auction 4.471%Tail 0.2 basis pointsBid to cover 2.49X vs avg at 2.48XDirects 16.9% vs avg of 24%Indirects 70.1% vs avg of 64.5%Dealers 13% vs avg of 11.4%

Auction grade C-

Modestly below average auction to end the coupon auctions ahead of the Fed decision tomorrow. 

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