10 Year $25 Billion Treasury Auction Closes at 3.692%

The Treasury Department sold $25 bln in 10-year notes on Wednesday at a yield of 3.692%.

• Alloted at High: 95.17%

• Bid To Cover 2.67 times the amount of debt being sold, compared to an average of 2.5 x at the last four sales of new securities.

• Indirects: 33.2% compared to an average of 41.2%

• Directs: purchased another 13%, the most ever for a new issue of 10-year debt and versus 3.2% on average.

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