US Treasury auctions 7 yr- Notes, yields rise
US Treasury auctions 7 yr- Notes, yields rise
Wednesday’s auction of $29-B in 7 yr US Treasury notes sold out at a yield of 1.233%. The bid-to-cover ratio of 2.72 was slightly lower than the average ratio of 2.68 from the last 6 auctions.
Just before the sale, bonds yields were lower on the 10-yr and 30-yr Notes, with both down just 3 basis points. The 10-yr Notes were yielding 1.79% and the 30-yr Notes 2.97%.
Yields on US 10-yr Notes topped 1.84% Tuesday on rising hopes that a deal on the US Fiscal Cliff is coming soon.
At Wednesday’s auction, primary dealers took about $11-B in 7 yr Notes, while direct bidders took $6.7-B about 23%, and indirect bidders took $11.6-B about 40%.
The direct bidder portion was higher than the 14.4% average for the last 6 sales, and the indirect portion of 39.9% was average.
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Heffernan Capital Management
Linda Johnson,
Business Development Director – Private Client Group,
Sales@Heffcap.com
Singapore
3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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