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10-Year Treasury Auction Results, Finance That Deficit…

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By Jon C. Ogg Published

A sum of $24 billion in 10-year Treasury notes were sold today.  Buyers kept the U.S Treasury alive yet again.  The 2.00% coupon priced at a slight discount for a cumulative 2.02% yield to maturity.  The indirect bids were 38.9% and the direct bids came in at 17.9%.  What was interesting was the bid-to-cover coming in at 3.05, implying 200% more demand than supply in this auction.

The prior on the run 10_year was trading at 1.99% or so right around the auction results being posted and the range has been 1.96% to 2.00%.

A rate of 2,02% is still very low and the bid-to-cover was adequate here.  Still, it looks a tad higher in yield than what we have seen in the last 10 sessions.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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