Treasury Sells $21 Billion in 10-Year Notes at 3.754%

The second reopening of 10-year note due November 2019 (the last 10-year notes auction took place last month ; bid-to-cover ratio 2.62, stop-out rate 3.448%) fetched a respectable yield of 3.754% on a bid-to-cover ratio of 3.00 on Wednesday.

• Yields 3.754%

• Directs 17% from 8.9%

• Indirects 29.0% vs Avg. 43.05%

• Alloted at High 49.95%

After today’s auction, the U.S. Treasury will auction $13 billion in 30-year bonds on Thursday, the last of this week’s $84 billion Treasury supply.