US Treasury sells $49B 7-Year Treasuries at higher-than-expected yield
The notes were awarded at 3.770%, above the pre-sale, or when-issue, rate of 3.761%, representing a tail of 0.9 basis points. That was, however, well below the 4.162% high seen in the prior auction.
Dealers represented 54.24% of the bids, with direct bidders at 10.02% and indirect bidders at 35.75%.
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