Bid to cover 2.38 vs 2.51 at the previous auction
The US treasury auctioned off 7 year debt at a yield of 1.423%. The high yield was less than 1 basis point above the 1 PM when issued level.
The Bid to cover came in lower than the previous auction at 2.38 vs 2.51. Primary dealers take a 31.28%. Direct 10.39% and indirect 58.33%.
The yield has moved up to 1.4300% after the auction.
