The US Treasury auctions off $25 billion of 30 year bonds at a high yield of 4.314

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  • High yield 4.314%
  • WI Level at the time of the auction 4.283%
  • Tail 3.1 basis points vs 6 month average of -0.5 basis points
  • Bid to cover 2.31X vs 6 month average of: 2.41X
  • Dealers 19.18% vs 6 month average of 15.2%
  • Directs 15.5% vs 6-month average of 18.4%
  • Indirects 65.32% vs 6-month average of 66.4%

AUCTION GRADE: F

Sorry it is hard to give an F but all the components were below the 6 month averages with the exception of the dealers, but the dealers taking 19.18% above the average of 15.2% is not good. They need to distribute that amount to customers who don’t want it at current level.

The Nasdaq moved from about +378 points to up 335 points currently. The S&PP move from up 95.79 points vs up 85 points currently.

However, we will see if the market ignores the results.

Rick Santelli from CNBC gave it a D.

This article was written by Greg Michalowski at www.forexlive.com.



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