Treasury's $75 B 3- and 6-month bill auctions were mixed
Treasury's $75 B 3- and 6-month bill auctions were mixed, though both priced well amid some safe haven flows. The $39 B 3-month offering stopped at 2.375%, through the 2.380% at the bid deadline, and is fractionally cheaper than last week's 2.365%. The bid cover dipped to 2.95, weaker than both the 3.26 previously and the 3.07 average. Indirect bidders took 40.0%, also below last week's 50.1% but in line with the 39.2% average. The $36 B 6-month bill was awarded at 2.480%, also through the 2.485% at the deadline, and a little richer compared to last week's 2.495%. The bid cover came in at 3.07, close to last week's 3.05 and the 3.10 average. Indirect bidders accepted 52.9%, better than the prior 38.6% and the 45.3% average.