Weak Five Year Auction Interest, Substantial Drop In Indirect Bids

- Yield 2.689% vs. Exp. 2.635%
- Bid/Cover 1.92 vs. Avg. 2.37 (Prev. 2.58)
- Indirect bids 36.7% vs. Avg. 45.94% (Prev. 62.87%)
- Allotted at high 31.16% (BBG)

Weakness in Five Year spreading to Two Year next.