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US sells 10-year Treasury notes at 4.683% yield
The 10-year auction drew a 2.53x bid-to-cover ratio, slightly stronger than the prior six-month average of 2.47x.
The US Treasury auctioned 10-year notes at a high yield of 4.683%, with the yield closely tracking 4.682% at the WI. Forexlive said the auction saw a modest tail of 0.1 basis points versus an average tail of +0.3 basis points, with bid-to-cover coming in at 2.53x compared with the six-month average of 2.47x. The outlet also reported that directs were 14.7% versus an average of 17.7%, while indirects were 76.7% versus 71.3% on average. Dealers took 8.6% versus 11.0% on average, a result Forexlive noted as favorable, contributing to a B+ auction grade.