Treasury's $96 B 3- and 6-month bill sale was ok
Treasury's $96 B 3- and 6-month bill sale was ok. The $51 B 3-month tranche was awarded at 2.035%, just through the 2.04% at the bid deadline, and is fractionally cheaper than last week's 2.030%. Bids totaled $149.9 B for a 2.96 cover, better than last week's 2.83 and the 2.86 average. Indirect bidders took 43.7%, better than the 40.9% previously and the 41.5% average. The $45 B 6-month bill stopped at 2.185%, right on the screws, and is also a bit higher than the prior week's 2.180%. There were $138.6 B in bids for a 3.11 cover, not quite up to the 3.25 from last week, but is a little better than the 3.02 average. Indirect bidder accepted 51.5%, less than the 64.1% last week but just above the 50.0% average.