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US sells USD 69bln of 2-year notes; Tail 1.8bps

Importance
Level 1
  • High Yield: 3.936% (prev. 3.455%, six-auction avg. 3.516%): WI 3.918%
  • Tail: 1.8bps (prev. 0.1bps, six-auction avg. -0.2bps)
  • Bid-to-Cover: 2.44x (prev. 2.63x, six-auction avg. 2.62x)
  • Dealers: 24.12% (prev. 9.8%, six-auction avg. 10.7%)
  • Directs: 16.5% (prev. 34.3%, six-auction avg. 32.1%)
  • Indirects: 59.38% (prev. 55.9%, six-auction avg. 57.2%)
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