US Treasury Clears $44 Billion 7-Year Note Auction at 4.290%, 0.1 BP Through WI
The US Treasury sold $44 billion of seven-year notes at a high yield of 4.290%, 0.1 basis point through the 4.291% when-issued level, meaning the auction cleared slightly below the pre-sale market yield. The bid-to-cover ratio was 2.52.
Indirect bidders took 78.4% of the sale, while direct bidders took 11.2% and primary dealers 10.4%. Compared with the previous seven-year sale, the high yield rose from 4.175% and the bid-to-cover ratio edged up from 2.51, while indirect participation increased from 58.4% and direct participation fell from 30.0%.
From the sources (4 posts)
@financialjuiceTreasury WI 7y yield 4.291% before $44 billion auction.
@financialjuiceUS 7-Year Note Auction High Yield 4.290% [Stop-through −0.1 bps] Bid-to-cover 2.52 Sells $44 bln Awards 71.23% of bids at high Primary Dealers take 10.4% Direct 11.2% Indirect 78.4%
@zerohedge7Y auction high yield 4.290%, WI 4.291%, 0.1bps stop through
@firstsquawkUS 7-YEAR NOTE SALE: - HIGH YIELD RATE: 4.290% (PREV 4.175%) - BID-COVER RATIO: 2.52 (PREV 2.51) - DIRECT ACCEPTED: 11.2% (PREV 30.0) - INDIRECT ACCEPTED: 78.4% (PREV 58.4%) - WI: 4.291%