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Strong Demand For 30Y Treasurys In Week's Final Auction

• by Tyler Durdan

When Issued, and 0.2bps lower than the 3.090% last month. This shows just how tight the auction range has been in recent months, and despite some notable moves over the past month, earlier today 10Y Treasury vol just hit a new all time low.

The internals on today's auction showed that, just like yesterday, demand remains brisk for US duration, with the Bid to Cover of 2.34, above last month's 2.274 and in line with the 6 month average of 2.36. Indirects were also solid, taking down 61.7% of the auction, just below the 62.2% last month but above the 61.3% average; Directs took down 11.3%, the most since April, leaving 27.0% for Dealers who ended up with less than both last month's 29.7%, and the 6 month average of 27.6%.

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