Today’s US 10Y Note Auction Proved Demand was High – Forex Anatomy

Today’s US 10Y Note Auction Proved Demand was High

$32 billion of The US 10Y notes were offered at a lower yield of 3.575pct. than the WI “When Issued” rate of 3.580pct. with a much tighter negative tail of -0.5 basis points.

This was a good auction, which indicated strong demand for the safe haven bond on a 2 year basis. It also represents the perceived credit worthiness of US bonds as a reliable haven in preparation for an anticipated period of recession. The bid-to-cover ratio was also higher at 2.53x, which represents demand and is reflective of the number of dollar bids presented in both direct (domestic) and indirect (international) bidding. The US Dollar weakened on this auction as treasury yields in the 10 year note tanked lower.


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About the Author Marvin Perry

Marvin Perry has been an active trader within the Forex market since 2010. He attended the University of Illinois in Urbana/Champaign, and graduated in 2002 with a double major in Cell and Structural Biology and Chemistry. He currently serves as an FX instructor & Quantitative Analyst for the Forex Anatomy Private Trading Community called "The Lab", where he conducts live weekly trading webinars & instruction on Fundamental Analysis & Inter-Market Interpretations of dynamic asset classes and their influence on currencies.

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