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Strategies & Market Trends : Booms, Busts, and Recoveries

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From: Haim R. Branisteanu	6/23/2010 1:29:35 PM
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US Treasury Awards $38B In 5-Year Notes At $1.995% WASHINGTON (Dow Jones)--The U.S. Treasury awarded $38 billion in five-year notes at Wednesday's auction at a high rate of 1.995%. The Treasury received bids totaling $97.97 billion and accepted $38 billion. Primary dealers were awarded $20.74 billion, while indirect bidders--a category that includes foreign central bankers--were awarded $13.09 billion. Indirect bidders got 35% of the total competitive; direct bidders received 11%. The bid-to-cover ratio, an indication of demand, was 2.58, the Treasury said. Tenders submitted at the high yield were allotted 18.36%. The dollar price was 99.431646 and the coupon rate was set at 1.875%, or 1 7/8%. The median rate was 1.925%; 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 1.800%. The issue is dated June 30, 2010, and matures on June 30, 2015. The CUSIP number on the five-year notes is 912828NL0.

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