U.S. $39 Billion 10-Year Treasury Auction Draws Strong Demand; Bid-to-Cover at 2.77
Summary
- The U.S. Treasury's $39 billion 10-year Treasury note auction drew firm demand.
- The auction recorded a high yield of 5.300% and a bid-to-cover ratio of 2.77.
- Indirect bidders accounted for a high 80.34%, while primary dealers took just 2.54%.
Forecast Trend Report by Period
The U.S. Treasury saw firm demand at its $39 billion auction of 10-year notes. The high yield was 5.300%, while the bid-to-cover ratio was 2.77.
Walter Bloomberg reported on October 7 that the Treasury auctioned $39 billion of notes with a remaining maturity of 9 years and 10 months.
Indirect bidders, including foreign central banks and institutional investors, took 80.34% of the sale. Direct bidders accounted for 17.12%.
Primary dealers took just 2.54% of the offering. The high share awarded to end investors supported overall demand at the auction.
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