The US treasury will present $68 billion of 2-year notes at 1 PM ET. The two-year word public sale is the primary of three coupon auctions this week. The treasury will public sale 5 and seven-year notes on Tuesday and Wednesday respectively earlier than the Thanksgiving vacation on Thursday.
Final week the US treasury auctioned off 20-year bonds. That public sale was poor with a 3 foundation level tail which was properly above the six-month common. The sellers have been left with some 22% of the public sale quantity.
The six-month averages of the key elements for the two-year word exhibits:
- Bid to cowl 2.62X
- Tail -0.2 bps
- Directs (home demand), 20.6%
- Indirects (worldwide demand) 65.8%
- Sellers: 13.6%
