The US treasury will auction off $45 billion of 3 year notes today at 1 PM ET. They will continue the auction process tomorrow with the $36 billion of 10 year notes and conclude on Thursday with $22 billion of 30 year bonds.The 6 month averages of the major components of the 3 or auction show:Bid to cover, 2.43XDirects (a measure of domestic demand), 16.5%Indirects (a measure of international demand), 58.1%Dealers, 25.4%The last auction had a high yield of 2.738% with a tail average of 0.2 basis points over the last 6 months. Yields today are lower in the US;2 year 2.608%, -1.2 basis points5 year 2.890% -9.2 basis points10 year 2.951%, -12.7 basis points30 year 3.074%, -13.3 basis pointsThe current 3 year yield is trading at 2.792%, -4.5 basis points./inflation
US treasury to auction off $45 billion of 3 year notes at the top of the hour
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