The Treasury sells $24B in 10-year notes at 3.548% (.pdf). Bid-to-cover ratio of 2.96, vs. a...

|By:, SA News Editor

The Treasury sells $24B in 10-year notes at 3.548% (.pdf). Bid-to-cover ratio of 2.96, vs. a recent 2.61; indirect bidders take 41.9%, vs. a recent 40%; direct bidders take 25%, vs. a recent 6%. Futures drop immediately: 30-year -0.23%, 10-year -0.16%, 5-year -0.07%.