Small Tail In Today's Auction Of $35 Billion In 5 Year Paper

Tyler Durden's picture

Hardly as memorable as yesterday's historic launch of Floating Rate Notes, today's 5 year auction in which the Treasury sold $35 billion in paper was a snoozer, and despite fears of a blow out following recent concerns about demand in the bucket following recent revulsion to 5 Years, priced at 1.572%, tailing the When Issued  1.57% modestly, however with a lower yield than last month's 1.6. The Bid to Cover also posted a modest increase from December's 2.42 up to 2.59, even if the general BTC trend continues to be one broadly lower. Within the internals the only notable item was the spike in Indirects, which took down 44.6% of the allocation, up from 24.8%, leaving 10.7% to the Directs and 44.7% to Dealers. Overall, nothing to write home about.

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maskone909's picture

god these markets are bi polar.  seriously impossible to short

BenwaBall's picture

Shorting gold or silver is still a good option

maskone909's picture

a little sketchy when its so close to cost of production

whoknoz's picture

did someone say "...fleeting rate notes..."?