Weak $25 Billion 10 Year Auction Closes At 3.692%, Massive 13% Direct Take Down, Large Tail

  • Yields 3.692% vs. Exp. 3.680%
  • Allotted at high 95.17%
  • Bid To Cover 2.67 vs. Avg. 2.78 (Prev. 3.00)
  • Indirects 33.2% vs. Avg. 43.27% (Prev. 29.0%)
  • Indirect Bid To Cover: 1.51
  • Indirect Take Down: 33%
  • Direct Take Down: Massive 13%