Treasury's $84 B 3- and 6-month bill sales were mixed, but generally lackluster
Treasury's $84 B 3- and 6-month bill sales were mixed, but generally lackluster. The $45 B 3-month (trimmed from $48 B) was awarded at 2.270%, tailing out from the 2.255% at the bid deadline. And it compares to last week's 2.220%. Bids totaled nearly $131.8 B for a 2.96 cover, above last week's 2.72 and the 2.88 average, though it was flattered in part by the reduction in volume. Indirect bidders accepted 32.8%, also better than the 21.6% previously and the 39.0% average. The $39 B 6-month offering (cut from $42 B) stopped at 2.415%, also tailing from the 2.410% at the deadline. There were $110.7 B in bids for a 2.87 cover, also stronger than last week's 2.79 but not as good as the 3.03 average. Indirect bidders accepted 37.9%, weaker than the 38.4% previously and the 48.6% average.