MARCH 25, 2026 AT 05:03 PM
US sells USD 70bln of 5-year notes; Tail 1.4bps
Importance
Level 1
- High Yield: 3.980% (prev. 3.615%, six-auction avg. 3.680%): WI 3.966%
- Tail: 1.4bps (prev. 0.7bps, six-auction avg. 0.3bps)
- Bid-to-Cover: 2.29x (prev. 2.32x, six-auction avg. 2.36x)
- Dealers: 15.61% (prev. 12.8%, six-auction avg. 10.8%)
- Directs: 22.48% (prev. 24.7%, six-auction avg. 27.5%)
- Indirects: 61.9% (prev. 62.5%, six-auction avg. 61.7%)