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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: Paul Kern	6/12/2007 2:59:42 PM
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US Treasury Awards $8B In Reopened 10-Year Notes At 5.230% -2 Last update: 6/12/2007 1:18:21 PM WASHINGTON (Dow Jones)--The U.S. Treasury awarded $8.00 billion in reopened 10-year notes at Tuesday's auction at a high rate of 5.230%. The Treasury received bids totaling $20.44 billion and accepted $8.00 billion, including $32.17 million of noncompetitive tenders, down from $60.75 million in noncompetitive tenders accepted at the previous 10-year note auction on May 8. The Treasury received no bids from foreign and international monetary authority accounts on a noncompetitive bidding basis. The bid-to-cover ratio, an indication of demand, was 2.55, Treasury said. Tenders submitted at the high yield were allotted 64.49%. The dollar price was 94.399130 and the coupon rate was set at 4.500%. The median rate was 5.210%; that is, 50% of the amount of accepted competitive bids were tendered at or below that rate. Of the competitive bids accepted, 5% were tendered at or below the rate of 5.172%. Accepted indirect bids for the reopened 10-year note were 10.9% of the total, down from 44.3% in May. The high rate was up from 4.612% at the previous 10-year note auction. The high rate was the highest since 5.865% at the 10-year note auction on Nov. 8, 2000. The issue is dated June 15 and matures on May 15, 2017. It is a reopening of a note originally issued May 15; the notes sold were actually 9-year, 11-month notes. The CUSIP number on the reopened notes is 912828GS3. (END) Dow Jones Newswires June 12, 2007 13:18 ET (17:18 GMT)

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