The US Treasury's 2-year FRN auction hit a high discount margin of 0.103% on Wednesday, lower than the 0.115% high in the previous auction.
The bid to cover ratio for the auction was 3.52, above the 2.78 ratio in the previous auction.
Dealers represented 67.22% of the bids, with indirect bidders at 32.78%.
For takedown, dealers took 34.29%, indirect bidders at 65.71%.
3:00 Monday vs 3:00 Friday2yr 100-04 vs 100-05; 3.799% vs 3.744%5yr 99-21+ vs 99-25+; 3.947% vs 3.918%10yr 98-10+ vs 98-17; 4.335% vs 4.308%30yr 96-31+ vs 97-14; 4.941% vs 4.914%2/10 53.307 bps vs 53.245 bps5/30 99.249 bps vs 99.402 bps
The US Treasury's 5-year auction hit a high yield of 3.955% on Monday, down from the 3.980% high in the previous auction.The bid to cover ratio for the auction was 2.33, above the 2.29 ratio in the previous auction.Dealers represented 55.38% of the bids, with direct bidders at 7.89% and indirect bidders at 36.74%.For takedown, dealers took 12.68%, with direct bidders at 15.03% and indirect bidders at 72.29%.