US treasury auctions $32 billion auction of 7 year notes at a high yield of 1.835%

  
  Analysis

WI traded at 1.844%

  • WI at auction time came in at 1.844%
  • high yield comes in at 1.835%, 0.9 basis points below the WI level
  • bid to cover 2.47x  versus 2.44x at the last auction
  • Dealers take 17.1%
  • Directs take 23.4%
  • Indirects take 59.4%
A good auction. Not great but good.  Grade: B
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