Treasury Auction Watch

NY Fed POMO Schedule 4/13- 5/11/2011

2011-04-12T16:01:00.000-07:00

The Federal Reserve Bank of New York announced the POMO schedule from 4/13 to 5/11/2011.

Purchases associated with principal payments from agency and agency MBS have dropped from $30-32 billion level when the QE2 started in November 2010. In February-March 2011, they dropped to $17 billion, and it has remained at $17-20 billion.

"Across all operations in the schedule listed below, the Desk plans to purchase approximately $97 billion. This represents $80 billion in purchases of the announced $600 billion purchase program and $17 billion in purchases associated with principal payments from agency debt and agency MBS expected to be received between mid-April and mid-May."

Operation Date¹	Settlement Date	Operation Type²	Maturity Range	Expected Purchase Size
April 13, 2011	April 14, 2011	Outright Treasury Coupon Purchase	10/15/2012-09/30/2013	$4 - $6 billion
April 14, 2011	April 15, 2011	Outright Treasury Coupon Purchase	05/15/2018-02/15/2021	$6 - $8 billion
April 15, 2011	April 18, 2011	Outright Treasury Coupon Purchase	04/30/2015-09/30/2016	$5 - $7 billion
April 18, 2011	April 19, 2011	Outright Treasury Coupon Purchase	08/15/2028-02/15/2041	$1.5 - $2.5 billion
April 19, 2011	April 20, 2011	Outright Treasury Coupon Purchase	10/31/2013-03/31/2015	$5 - $7 billion
April 20, 2011	April 21, 2011	Outright TIPS Purchase	04/15/2013-02/15/2041	$1 - $2 billion
April 25, 2011	April 26, 2011	Outright Treasury Coupon Purchase	10/31/2016-03/31/2018	$6 - $8 billion
April 26, 2011	April 27, 2011	Outright Treasury Coupon Purchase	05/15/2021-11/15/2027	$1.5 - $2.5 billion
April 28, 2011	April 29, 2011	Outright Treasury Coupon Purchase	04/30/2015-09/30/2016	$5 - $7 billion
April 29, 2011	May 2, 2011	Outright Treasury Coupon Purchase	10/31/2013-03/31/2015	$5 - $7 billion
May 2, 2011	May 3, 2011	Outright Treasury Coupon Purchase	05/15/2018-02/15/2021	$6 - $8 billion
May 3, 2011	May 4, 2011	Outright Treasury Coupon Purchase	11/15/2016-05/02/2018	$6 - $8 billion
May 4, 2011	May 5, 2011	Outright TIPS Purchase	04/15/2013-02/15/2041	$1 - $2 billion
May 5, 2011	May 6, 2011	Outright Treasury Coupon Purchase	08/15/2028-02/15/2041	$1.5 - $2.5 billion
May 6, 2011	May 9, 2011	Outright Treasury Coupon Purchase	11/15/2013-04/30/2015	$5 - $7 billion
May 9, 2011	May 10, 2011	Outright Treasury Coupon Purchase	05/15/2018-02/15/2021	$6 - $8 billion
May 10, 2011	May 11, 2011	Outright Treasury Coupon Purchase	05/15/2015-10/31/2016	$5 - $7 billion
May 11, 2011	May 12, 2011	Outright Treasury Coupon Purchase	11/15/2016-05/02/2018	$6 - $8 billion

NY Fed POMO Schedule 3/14 - 4/11/2011

2011-03-10T11:28:00.000-08:00

From the Federal Reserve New York:

Across all operations in the schedule listed below, the Desk plans to purchase approximately $102 billion. This represents $80 billion in purchases of the announced $600 billion purchase program and $22 billion in purchases associated with principal payments from agency debt and agency MBS expected to be received between mid-March and mid-April.

Operation Date¹	Settlement Date	Operation Type²	Maturity Range	Expected Purchase Size
March 14, 2011	March 15, 2011	Outright Treasury Coupon Purchase	05/15/2018 – 02/15/2021	$6.5 - $8.5 billion
March 16, 2011	March 17, 2011	Outright Treasury Coupon Purchase	03/31/2015 – 08/31/2016	$5.5 - $7.5 billion
March 17, 2011	March 18, 2011	Outright Treasury Coupon Purchase	09/30/2013 – 02/28/2015	$5.5 - $7.5 billion
March 18, 2011	March 21, 2011	Outright TIPS Purchase	04/15/2013 – 02/15/2041	$1 - $2 billion
March 21, 2011	March 22, 2011	Outright Treasury Coupon Purchase	08/15/2028 – 02/15/2041	$1.5 - $2.5 billion
March 22, 2011	March 23, 2011	Outright Treasury Coupon Purchase	09/30/2016 – 02/28/2018	$6.5 - $8.5 billion
March 23, 2011	March 24, 2011	Outright Treasury Coupon Purchase	05/15/2018 – 02/15/2021	$6.5 - $8.5 billion
March 24, 2011	March 25, 2011	Outright Treasury Coupon Purchase	09/30/2013 – 02/28/2015	$5.5 - $7.5 billion
March 25, 2011	March 28, 2011	Outright Treasury Coupon Purchase	09/30/2012 – 09/15/2013	$4 - $6 billion
March 28, 2011	March 29, 2011	Outright Treasury Coupon Purchase	03/31/2015 – 08/31/2016	$5.5 - $7.5 billion
March 29, 2011	March 30, 2011	Outright TIPS Purchase	04/15/2013 – 02/15/2041	$1 - $2 billion
March 30, 2011	March 31, 2011	Outright Treasury Coupon Purchase	10/15/2013 – 02/28/2015	$5.5 - $7.5 billion
March 31, 2011	April 1, 2011	Outright Treasury Coupon Purchase	05/15/2021 – 11/15/2027	$1.5 - $2.5 billion
April 4, 2011	April 5, 2011	Outright Treasury Coupon Purchase	10/31/2016 – 03/31/2018	$6.5 - $8.5 billion
April 5, 2011	April 6, 2011	Outright Treasury Coupon Purchase	05/15/2018 – 02/15/2021	$6.5 - $8.5 billion
April 6, 2011	April 7, 2011	Outright Treasury Coupon Purchase	08/15/2028 – 02/15/2041	$1.5 - $2.5 billion
April 7, 2011	April 8, 2011	Outright Treasury Coupon Purchase	04/30/2015 – 09/30/2016	$5.5 - $7.5 billion
April 11, 2011	April 12, 2011	Outright Treasury Coupon Purchase	10/31/2016 – 03/31/2018	$6.5 - $8.5 billion

NY Fed POMO Schedule 2/11 - 3/9/2011

2011-02-10T23:30:00.000-08:00

The Federal Reserve Bank of New York will conduct the following permanent open market operations (POMO) from February 11 to March 9, 2011. The total purchase amount will be about $97 billion, of which $80 billion is part of $600 billion QE2 and $17 billion as part of QELite (replacement of agency/MBS as they're paid back).

It is $14 billion less than the last POMO, but as the Treasury Department is unwinding the SFP (Supplementary Financing Program) for the Fed by not replenishing the SFP account (which swelled to $200 billion by $25 billion per week auction of CMBs) as the debt limit approaches, the Primary Dealers will have additional billions that they could deploy elsewhere.

The current release (2/10/2011) of the Federal Reserve's Balance Sheet shows the SFP account at about $175 billion, $25 billion less than last week.

Operation Date¹	Settlement Date	Operation Type²	Maturity Range	Expected Purchase Size

February 11, 2011	February 14, 2011	Outright Treasury Coupon Purchase	08/15/2016 – 01/31/2018	$6 – $8 billion

February 14, 2011	February 15, 2011	Outright TIPS Purchase	04/15/2013 – 02/15/2040	$1 – $2 billion

February 15, 2011	February 16, 2011	Outright Treasury Coupon Purchase	02/28/2015 – 08/15/2016	$5 – $7 billion

February 16, 2011	February 17, 2011	Outright Treasury Coupon Purchase	05/15/2021 – 11/15/2027	$1.5 – $2.5 billion

February 17, 2011	February 18, 2011	Outright Treasury Coupon Purchase	05/15/2018 – 02/15/2021	$6 – $8 billion

February 18, 2011	February 22, 2011	Outright Treasury Coupon Purchase	08/31/2013 – 02/15/2015	$5 – $7 billion

February 22, 2011	February 23, 2011	Outright Treasury Coupon Purchase	08/31/2016 – 02/15/2018	$6 – $8 billion

February 23, 2011	February 24, 2011	Outright Treasury Coupon Purchase	08/15/2028 – 02/15/2041	$1.5 – $2.5 billion

February 24, 2011	February 25, 2011	Outright Treasury Coupon Purchase	08/31/2012 – 08/15/2013	$4 – $6 billion

February 25, 2011	February 28, 2011	Outright Treasury Coupon Purchase	05/15/2018 – 02/15/2021	$6 – $8 billion

February 28, 2011	March 1, 2011	Outright Treasury Coupon Purchase	08/31/2013 – 02/15/2015	$5 – $7 billion

March 1, 2011	March 2, 2011	Outright Treasury Coupon Purchase	08/15/2028 – 02/15/2041	$1.5 – $2.5 billion

March 2, 2011	March 3, 2011	Outright Treasury Coupon Purchase	03/31/2015 – 08/31/2016	$5 – $7 billion

March 3, 2011	March 4, 2011	Outright Treasury Coupon Purchase	05/15/2018 – 02/15/2021	$6 – $8 billion

March 4, 2011	March 7, 2011	Outright TIPS Purchase	04/15/2013 – 02/15/2041	$1 – $2 billion

March 7, 2011	March 8, 2011	Outright Treasury Coupon Purchase	09/15/2013 – 02/28/2015	$5 – $7 billion

March 8, 2011	March 9, 2011	Outright Treasury Coupon Purchase	09/30/2016 – 02/28/2018	$6 – $8 billion

March 9, 2011	March 10, 2011	Outright Treasury Coupon Purchase	03/31/2015 – 08/31/2016	$5 – $7 billion

NY Fed POMO Schedule 1/13 - 2/9/2011

2011-01-12T14:59:00.000-08:00

The Federal Reserve Bank of New York will conduct the following permanent open market operations (POMO) from January 13 to February 9, 2011. The total purchase amount will be about $111 billion, of which $80 billion is part of $600 billion QE2 and $32 billion as part of QELite (replacement of agency/MBS as they're paid back).

Operation Date¹	Settlement Date	Operation Type²	Maturity Range	Expected Purchase Size

January 13, 2011	January 14, 2011	Outright Treasury Coupon Purchase	07/31/2016 – 12/31/2017	$7 – $9 billion

January 14, 2011	January 18, 2011	Outright Treasury Coupon Purchase	01/31/2015 – 06/30/2016	$6 – $8 billion

January 18, 2011	January 19, 2011	Outright TIPS Purchase	04/15/2013 – 02/15/2040	$1 – $2 billion

January 19, 2011	January 20, 2011	Outright Treasury Coupon Purchase	07/31/2013 – 12/31/2014	$6 – $8 billion

January 20, 2011	January 21, 2011	Outright Treasury Coupon Purchase	08/15/2028 – 11/15/2040	$1.5 – $2.5 billion

January 21, 2011	January 24, 2011	Outright Treasury Coupon Purchase	02/15/2018 – 11/15/2020	$7 – $9 billion

January 24, 2011	January 25, 2011	Outright Treasury Coupon Purchase	07/31/2016 – 12/31/2017	$7 – $9 billion

January 25, 2011	January 26, 2011	Outright Treasury Coupon Purchase	01/31/2015 – 06/30/2016	$6 – $8 billion

January 27, 2011	January 28, 2011	Outright Treasury Coupon Purchase	07/31/2012 – 07/15/2013	$4 – $6 billion

January 28, 2011	January 31, 2011	Outright Treasury Coupon Purchase	02/15/2018 – 11/15/2020	$7 – $9 billion

January 31, 2011	February 1, 2011	Outright Treasury Coupon Purchase	08/15/2013 – 12/31/2014	$6 – $8 billion

February 1, 2011	February 2, 2011	Outright TIPS Purchase	04/15/2013 – 02/15/2040	$1 – $2 billion

February 2, 2011	February 3, 2011	Outright Treasury Coupon Purchase	02/15/2021 – 11/15/2027	$1.5 – $2.5 billion

February 3, 2011	February 4, 2011	Outright Treasury Coupon Purchase	08/15/2016 – 01/31/2018	$7 – $9 billion

February 4, 2011	February 7, 2011	Outright Treasury Coupon Purchase	08/15/2013 – 01/31/2015	$6 – $8 billion

February 7, 2011	February 8, 2011	Outright Treasury Coupon Purchase	02/15/2018 – 11/15/2020	$7 – $9 billion

February 8, 2011	February 9, 2011	Outright Treasury Coupon Purchase	08/15/2028 – 11/15/2040	$1.5 – $2.5 billion

February 9, 2011	February 10, 2011	Outright Treasury Coupon Purchase	02/15/2015 – 07/31/2016	$6 – $8 billion

The next release of the approximate purchase amount and tentative outright Treasury operation schedule will be at 2 p.m. on February 10, 2011. At that time, the Desk will also publish information on prices paid for securities included in the operations listed above.

______________________________
¹Operations are tentatively scheduled to begin around 10:15 AM and close at 11:00 AM unless noted otherwise.
²Nominal coupon operations are specified as “Outright Treasury Coupon Purchase” and TIPS operations are specified as “Outright TIPS Purchase”.

30-Year Treasury Bond Auction Result 11/10/2010

2010-11-10T11:28:00.000-08:00

Amount auctioned: $16 billion, original issue.
Primary Dealer: $8.11 billion (50.7%)
Direct Bidder: $1.72 billion (10.8%)
Indirect Bidder: $6.13 billion (38.35%)
Bid to Cover Ratio: 2.31 (last month: 2.49; last original issue in August: 2.77)
Interest Rate: 4.250% (last original issue in August: 3.875%)
High Yield: 4.320% (allotted at high: 82.04%) (last month high yield: 3.852%)

Treasury Auction for the Week of September 27, 2010

2010-09-26T21:29:00.000-07:00

The US Treasury Department auctions the following Treasury securities this week.

Monday September 27, 2010

13-week bill: $29 billion (same as last week)
26-week bill: $29 billion (same as last week)
2-year note: $36 billion ($1 billion less than last month)

Tuesday September 28, 2010

4-week bill: TBA (last week $25 billion)
5-year note: $35 billion ($1 billion less than last month)

Wednesday September 29, 2010

56-day CMB* for SFP*: TBA (last week $25 billion)
7-year note: $29 billion (same as last month)

Total for the week: $158 billion

Bills: $58 billion (without 4-week bill and 56-day CMB)
Notes: $100 billion

In addition, the Federal Reserve Bank of New York is schedule to conduct Permanent Open Market Operations on Tuesday September 28 and Thursday September 30.

Treasury Auction for the Week of September 20, 2010

2010-09-22T23:29:00.000-07:00

The US Treasury Department auctions the following Treasury securities this week.

Monday September 20, 2010

13-week bill: $29 billion
26-week bill: $29 billion

Tuesday September 21, 2010

4-week bill: $25 billion
52-week bill: $25 billion

Wednesday September 22, 2010

56-day CMB* for SFP*: $25 billion

Total for the week: $133 billion

Bills: $133 billion

Federal Reserve Permanent Open Market Operation Schedule September 15 - October 6

2010-09-22T23:21:00.000-07:00

The Federal Reserve plans to buy $27 billion Treasury securities, up $9 billion from the last operation period (August 17 - September 13).

OT: US Treasury 10-Year Note Price vs S&P500 Index

2010-09-22T20:47:00.000-07:00

There are analysts and traders who watch the positive correlation between S&P500 index and 10-year Treasury note yield. They point out to the most recent divergence where the 10-year note yield continues to go down without S&P500 following suit, and draw a conclusion that the stock market is just about to follow the 10-year note yield and that means a major market crash yet again. (Here's the chart by Karl Denninger today as one such example.)

However, when one compares S&P500 index and 10-year Treasury note price (which generally have the negative correlation with each other), the divergence doesn't seem that striking.

People tend to see what they want to see, much like a Rorschach test.

Treasury Auction for the Week of August 23, 2010

2010-08-22T21:02:00.001-07:00

The US Treasury Department will auction the following Treasury securities this week.

Monday August 23, 2010

13-week bill: $30 billion (same as last week)
26-week bill: $30 billion (same as last week)

Tuesday August 24, 2010

4-week bill: TBA (last week $34 billion)
52-week bill: $25 billion (same as last month)
2-year note: $37 billion ($1 billion less than last month)

Wednesday August 25, 2010

56-day CMB* for SFP*: TBA (last week $25 billion)
5-year note: $36 billion ($1 billion less than last month)

Thursday August 26, 2010

7-year note: $29 billion (same as last month)

Total for the week: $187 billion

Bills: $85 billion (without 4-week bill and 56-day CMB)
Notes: $102 billion

Federal Reserve Permanent Open Market Operation Schedule

2010-08-17T12:12:00.000-07:00

The Federal Reserve plans to buy $18 billion Treasury securities with these operations.

Treasury Auction for the Week of August 9, 2010 (Updated with Results)

2010-08-08T22:54:00.000-07:00

The US Treasury Department will auction the following Treasury securities this week.

Monday August 9, 2010

13-week bill: $30 billion (same as last week)
26-week bill: $30 billion (same as last week)

Tuesday August 10, 2010

4-week bill: TBA (last week $31 billion)
3-year note: $34 billion ($1 billion less than last month)

Wednesday August 11, 2010

56-day CMB* for SFP*: $25 billion (same as last week)

Primary Dealer: $15.08 billion (60.3%; last week 63.8%)
Direct Bidder: $4.73 billion (18.9%; last week 17.8%)
Indirect Bidder: $5.20 billion (20.8%; last week 18.3%)
Bid to Cover Ratio: 4.95 (last week 4.64)
Investment Rate: 0.137% (last week 0.162%)
High Rate: 0.135% (allotted at high: 80.85%)
10-year note: $24 billion (same as the last original issue in May 2010)

Primary Dealer: $10.38 billion (43.3%; last original issue 33%)
Direct Bidder: $2.53 billion (10.5%; last original issue 24.8%)
Indirect Bidder: $10.92 billion (45.5%; last original issue 41.6%)
Bid to Cover Ratio: 3.04 (last original issue 2.96)
Interest Rate: 2.625% (last original issue 3.500%)
High Yield: 2.730% (allotted at high: 10.57%)

In addition, SOMA purchased $1.44 billion 10-year note.

Thursday August 12, 2010

30-year bond: $16 billion (same as the last original issue in May 2010)

Total for the week: $134 billion

Bills: $60 billion (without 4-week bill and 56-day CMB)
Notes and bonds: $74 billion

Total for August 2010 so far: $116 billion

Bills: $116 billion

Treasury Auction for the Week of July 26, 2010

2010-07-25T13:51:00.000-07:00

The US Treasury Department will auction the following Treasury securities for the week of July 26, 2010.

The trend continues, of decreased amount raised via the auctions of notes (Treasury securities with maturities longer than one year).

Monday July 26, 2010

13-week bill: $30 billion (same as last week)
26-week bill: $30 billion (same as last week)

Tuesday July 27, 2010

4-week bill: TBA (last week $32 billion)
52-weel bill: $25 billion (same as last month)
2-year note: $38 billion ($2 billion less than last month)

Wednesday July 28, 2010

56-day CMB* under SFP*: TBA (last week $25 billion)
5-year note: $37 billion ($1 billion less than last month)

Thursday July 29, 2010

7-year note: $29 billion ($1 billion less than last month)

Total for the week: $189 billion (without 4-week bill and 56-day CMB)

Bills: $85 billion (without 4-week bill and 56-day CMB)
Notes: $104 billion

Total for July 2010 so far: $436 billion

Bills: $355 billion
Notes and bonds: $81 billion

Additional purchase by SOMA for July 2010 so far: $12.898 billion

Bills: $12.49 billion
Notes and bonds: $408 million

Treasury Auction for the Week of July 19, 2010 (Updated with Results)

2010-07-21T23:15:00.000-07:00

The US Treasury Department auctioned the following Treasury securities this week.

Monday July 19, 2010

13-week bill: $30 billion (same as last week)

Primary Dealer: $14.86 billion (49.5%; last week 48.2%)
Direct Bidder: $3.07 billion (10.2%; last week 8.9%)
Indirect Bidder: $10.63 billion (35.4%; last week 38.1%)
Bid to Cover Ratio: 4.29 (last week 4.64)
Investment Rate: 0.157% (last week 0.152%)
High Rate: 0.155% (allotted at high: 41.51%)
26-week bill: $30 billion (same as last week)

Primary Dealer: $11.38 billion (37.9%; last week 54.9%)
Direct Bidder: $3.85 billion (12.8%; last week 13.6%)
Indirect Bidder: $13.31 billion (44.4%; last week 27%)
Bid to Cover Ratio: 4.19 (last week 3.90)
Investment Rate: 0.198% (last week 0.203%)
High Rate: 0.195% (allotted at high: 2.78%)

Tuesday July 20, 2010

4-week bill: $32 billion (same as last week)

Primary Dealer: $17.05 billion (53.3%; last week 52.4%)
Direct Bidder: $3.68 billion (11.5%; last week 16.9%)
Indirect Bidder: $10.99 billion (34.3%; last week 29.4%)
Bid to Cover Ratio: 4.42 (last week 4.16)
Investment Rate: 0.157% (last week 0.152%)
High Rate: 0.155% (allotted at high: 0.87%)

In addition, SOMA* purchased $2.42 billion 4-week bill.

Wednesday July 21, 2010

56-day CMB* for SFP*: $25 billion (same as last week)

Primary Dealer: $15.22 billion (60.9%; last week 71.5%)
Direct Bidder: $3.97 billion (15.9%; last week 11.9%)
Indirect Bidder: $5.81 billion (23.2%; last week 16.5%)
Bid to Cover Ratio: 4.63 (last week 4.61)
Investment Rate: 0.162% (last week 0.162%)
High Rate: 0.160% (allotted at high: 17.02%)

Total for the week: $117 billion

Bills: $117 billion

Total for July 2010 so far: $436 billion

Bills: $355 billion
Notes and bonds: $81 billion

Additional Purchase by SOMA for July 2010 so far: $12.898 billion

Bills: $12.49 billion
Notes and bonds: $408 million

Direct Bidder Percentage in Treasury Auction from January 2009 to July 2010

2010-07-20T00:40:00.000-07:00

(Click on the chart for clearer image.)

Direct Bidder Percentage used in the chart was calculated from the auction results published by the US Treasury Department. For bills, the 1st week of the month data were used. For notes, the July auctions will be held next week. The first-ever auction of 7-year note was February 2009.

Observation:

Many analysts and observers have noted the increased Direct Bidder participation in Treasury notes and bonds. However, the same is also true for shorter bills, as you can see in the chart.

There are a few volatile data series (2-year note, 7-year note), but the general average trend of Direct Bidder participation in Treasury auctions started to move up in February 2010. Notice that after April most Treasury securities featured here have over 10% Direct Bidder participation.

Events that may have influenced the trend:

In late January, the SEC announced new rules for money market funds. Money market funds would be required to hold certain percentage of safe and liquid securities such as Treasuries.

In early March, the SEC announced the implementation dates (end of May, end of June) for the new money market fund rules.

The Federal Reserve ended the quantitative easing on March 31.

Treasury Auction for the Week of July 12, 2010 (Corrected) (UPDATED WITH RESULTS)

2010-07-18T16:25:00.000-07:00

The US Treasury Department will auction the following Treasury securities this week.

Monday July 12, 2010

13-week bill: $30 billion (same as last week)

Primary Dealer: $14.45 billion (48.2%; last week 39.4%)
Direct Bidder: $2.68 billion (8.9%; last week 8.1%)
Indirect Bidder: $11.42 billion (38.1%; last week 47.9%)
Bid to Cover Ratio: 4.64 (last week 4.23)
Investment Rate: 0.152% (last week 0.167%)
High Rate: 0.150% (allotted at high: 80.78%)
26-week bill: $30 billion (same as last week)

Primary Dealer: $16.46 billion (54.9%; last week 43.9%)
Direct Bidder: $4.07 billion (13.6%; last week 14.7%)
Indirect Bidder: $8.09 billion (27%; last week 37.2%)
Bid to Cover Ratio: 3.90 (last week 4.15)
Investment Rate: 0.203% (last week 0.208%)
High Rate: 0.200% (allotted at high: 36.10%)
3-year note: $35 billion ($1 billion less than last month)

Primary Dealer: $15.76 billion (45%; last month 36.9%)
Direct Bidder: $4.98 billion (14.2%; last month 16.3%)
Indirect Bidder: $14.20 billion (40.6%; last month 46.6%)
Bid to Cover Ratio: 3.20 (last month 3.23)
Interest Rate: 1% (last month 1.125%)
High Yield: 1.055% (allotted at high: 72.43%)

In addition, SOMA* purchased $10 million 3-year note.

Tuesday July 13, 2010

4-week bill: $32 billion ($4 billion less than last week)

Primary Dealer: $16.77 billion (52.4%; last week 65.8%)
Direct Bidder: $5.41 billion (16.9%; last week 14.1%)
Indirect Bidder: $9.40 billion (29.4%; last week 19.4%)
Bid to Cover Ratio: 4.16 (last week 3.57)
Investment Rate: 0.152% (last week 0.167%)
High Rate: 0.150% (allotted at high: 63.33%)

In addition, SOMA* purchased $6.29 billion 4-week bill.
9-year 10-month note (2nd reopening): $21 billion (same as 1st reopening in June)

Primary Dealer: $10.18 billion (48.5%; 1st reopening 46.2%)
Direct Bidder: $2.05 billion (9.8%; 1st reopening 13.5%)
Indirect Bidder: $8.73 billion (41.6%; 1st reopening 40.0%)
Bid to Cover Ratio: 3.09 (1st reopening 3.24; original issue 2.96)
Interest Rate: 3.500%
High Yield: 3.119% (allotted at high: 77.69%) (1st reopening high yield: 3.242%; original issue high yield: 3.548%)

In addition, SOMA* purchased $6 million 9-year 10-month note. (last month's purchase: $121 million)

Wednesday July 14, 2010

56-day CMB: $25 billion (same as last week)

Primary Dealer: $17.88 billion (71.5%; last week 54.6%)
Direct Bidder: $2.98 billion (11.9%; last week 17.2%)
Indirect Bidder: $4.13 billion (16.5%; last week 28.3%)
Bid to Cover Ratio: 4.61 (last week 4.40)
Investment Rate: 0.162% (last week 0.167%)
High Rate: 0.160% (allotted at high: 36.00%)
29-year 10-month bond (2nd reopening): $13 billion (same as 1st reopening in June)

Primary Dealer: $6.03 billion (46.4%; 1st reopening 43.6%)
Direct Bidder: $2.09 billion (16.1%; 1st reopening 20.2%)
Indirect Bidder: $4.86 billion (37.4%; 1st reopening 35.9%)
Bid to Cover Ratio: 2.89 (1st reopening 2.87; original issue 2.60)
Interest Rate: 4.375%
High Yield: 4.080% (allotted at high: 39.23%) (1st reopening 4.182%; original issue 4.449%)

In addition, SOMA* purchased $4 million 29-year 10-month bond. (1st reopening purchase: $75 million)

Total for the week: $186 billion

Bills: $117 billion
Notes and bonds: $69 billion

Total for July 2010 so far: $319 billion

Bills: $238 billion
Notes: $81 billion

Additional purchase by SOMA for July 2010 so far: $10.478 billion

Bills: $10.07 billion
Notes: $408 million

Treasury Auction for the Week of July 6, 2010 (Updated with Results)

2010-07-08T21:30:00.000-07:00

The US Treasury Department auctioned the following Treasury securities this week.

Tuesday July 6, 2010

13-week bill: $30 billion ($2 billion more than last week)

Primary Dealer: $11.82 billion (39.4%; last week 46.3%)
Direct Bidder: $2.44 billion (8.1%; last week 15%)
Indirect Bidder: $14.38 billion (47.9%; last week 30.9%)
Bid to Cover Ratio: 4.23 (last week 3.95)
Investment Rate: 0.167% (last week 0.162%) *same as 4-week bill, 56-day CMB*
High Rate: 0.165% (allotted at high: 51.92%)
26-week bill: $30 billion ($2 billion more than last week)

Primary Dealer: $13.16 billion (43.9%; last week 32.1%)
Direct Bidder: $4.40 billion (14.7%; last week 18.1%)
Indirect Bidder: $11.16 billion (37.2%; last week 43.7%)
Bid to Cover Ratio: 4.15 (last week 4.24)
Investment Rate: 0.208% (last week 0.218%)
High Rate: 0.205% (allotted at high: 73.41%)

Wednesday July 7, 2010

4-week bill: $36 billion (same as last week)

Primary Dealer: $23.67 billion (65.8%; last week 64%)
Direct Bidder: $5.09 billion (14.1%; last week 12.8%)
Indirect Bidder: $6.98 billion (19.4%; last week 19.6%)
Bid to Cover Ratio: 3.57 (last week 3.47)
Investment Rate: 0.167% (last week 0.152%) *same as 13-week bill, 56-day CMB*
High Rate: 0.165% (allotted at high: 88.94%)

In addition, SOMA* purchased $3.78 billion 4-week bill.
56-day CMB* under SFP* for the Federal Reserve: $25 billion (same as last week)

Primary Dealer: $13.64 billion (54.6%; last week 44.6%)
Direct Bidder: $4.30 billion (17.2%; last week 11.1%)
Indirect Bidder: $7.07 billion (28.3%; last week 44.3%)
Bid to Cover Ratio: 4.40 (last week 4.50)
Investment Rate: 0.167% (last week 0.183%) *same as 4-week bill, 13-week bill*
High Rate: 0.165% (allotted at high: 24.41%)

Thursday July 8, 2010

10-year TIPS: $12 billion ($2 billion more than last original issue in January)

Primary Dealer: $5.20 billion (43.3%; last original issue 52%)
Direct Bidder: $0.50 billion (4%; last original issue 3%)
Indirect Bidder: $6.15 billion (51.3%; last original issue 39.6%)
Bid to Cover Ratio: 2.88 (last original issue 2.65)
Interest Rate: 1.250% (last original issue 1.375%)
High Yield: 1.295% (allotted at high: 43.46%)

In addition, SOMA purchased $388 million 10-year TIPS.

Total for the week: $133 billion

Bills: $121 billion
Notes: $12 billion

Total for July 2010 so far: $133 billion

Bills: $121 billion
Notes: $12 billion

Additional purchase by SOMA for July 2010 so far: $4.168 billion

Bills: $3.78 billion
Notes: $388 million

Treasury Auctions from July 2009 to June 2010 (1-Year Anniversary Special)

2010-07-06T18:56:00.000-07:00

(Click on the chart for sharper image.)

Observations:

After subdued fall and winter auctions, the treasury auctions spiked in March, due to the increased issuance of short-term bills, in particular, 56-day CMB (Cash Management Bill) to raise money for the use of Federal Reserve (and the money goes to the "Supplemental Financing Account" at the Federal Reserve; the balance as of June 30 is $199,965 million).

In addition to the 56-day CMB, there has been a noticeable increase in short-term bill issuance since January.

Weekly issuance of 4-week bill went from $10 billion in January to $36 billion in the last week of June;
Weekly issuance of 13-week bill went from $23 billion in January to $28 billion in June; and
Weekly issuance of 26-week bill went from $25 billion in January to $28 billion in June.

The dotted line on the chart indicates the total amount of short-term bills each month.

The issuance of notes and bonds declined in June to below $180 billion per month for the first time since July 2009. 12-month average is $193.15 billion per month.

This is despite the Treasury Secretary Tim Geithner's remarks last October that the Treasury plans to lengthen the average maturity of debt from 49 months to 72 months.

Looking at the actual auction results for the last 12 months, particularly since the beginning of this year, the opposite seems to be true; the Treasury Department is borrowing using short-term debt to fund the government spending, which by nature is long-term.

Treasury Auction for June 2010

2010-06-30T18:00:00.000-07:00

Treasury Auction for the Week of June 28, 2010 (Updated with Results)

2010-06-28T22:03:00.000-07:00

The US Treasury Department will auction the following Treasury securities this week.

Monday June 28, 2010

13-week bill: $28 billion ($1 billion more than last week)

Primary Dealer: $12.95 billion (46.3%; last week 62.6%)
Direct Bidder: $4.22 billion (15%; last week 15.1%)
Indirect Bidder: $8.66 billion (30.9%; last week 16.3%)
Bid to Cover Ratio: 3.95 (last week 3.91)
Investment Rate: 0.162% (last week 0.117%)
High Rate: 0.160% (allotted at high: 44.35%)
26-week bill: $28 billion ($1 billion more than last week)

Primary Dealer: $8.98 billion (32.1%; last week 43.5%)
Direct Bidder: $5.06 billion (18.1%; last week 11.3%)
Indirect Bidder: $12.24 billion (43.7%; last week 39.7%)
Bid to Cover Ratio: 4.24 (last week 4.12)
Investment Rate: 0.218% (last week 0.173%)
High Rate: 0.215% (allotted at high: 67.21%)

Tuesday June 29, 2010

4-week bill: $36 billion ($4 billion more than last week; the previous high was August 2009 at $35 billion)

Primary Dealer: $23.05 billion (64%; last week 54.8%)
Direct Bidder: $4.60 billion (12.8%; last week 22%)
Indirect Bidder: $7.06 billion (19.6%; last week 22.3%)
Bid to Cover Ratio: 3.47 (last week 3.70)
Investment Rate: 0.152% (last week 0.086%)
High Rate: 0.150% (allotted at high: 65.36%)

In addition, SOMA* purchased $5.94 billion 4-week bill.

Wednesday June 30, 2010

56-day CMB* under SFP* for the Federal Reserve: $25 billion

Primary Dealer: $11.14 billion (44.6%; last week 46%)
Direct Bidder: $2.78 billion (11.1%; last week 19.7%)
Indirect Bidder: $11.07 billion (44.3%; last week 34.3%)
Bid to Cover Ratio: 4.50 (last week 4.33)
Investment Rate: 0.183% (last week 0.122%)
High Rate: 0.180% (allotted at high: 13.22%)

Total for the week: $117 billion

Bills: $117 billion

Total for June 2010: $787 billion

Bills: $609 billion
Notes and Bonds: $178 billion

Additional purchase by SOMA for June 2010: $27.987 billion

Bills: $24.37 billion
Notes and Bonds: $3.617 billion

Treasury Auction Schedule for the Week of June 21, 2010 (Updated with Results)

2010-06-20T16:06:00.000-07:00

(Sorry for the delay. Bear with me while I catch up with updates..)

The US Treasury Department will auction the following Treasury securities this week.

Monday June 21, 2010

13-week bill: $27 billion (same as last week)

Primary Dealer: $16.90 billion (62.6%; last week 56.4%)
Direct Bidder: $4.09 billion (15.1%; last week 9.6%)
Indirect Bidder: $4.39 billion (16.3%; last week 28.8%)
Bid to Cover Ratio: 3.91 (last week 4.93)
Investment Rate: 0.117% (last week 0.066%)
High Rate: 0.115% (allotted at high: 96.56%)
26-week bill: $27 billion (same as last week)

Primary Dealer: $11.75 billion (43.5%; last week 55.4%)
Direct Bidder: $3.04 billion (11.3%; last week 10.3%)
Indirect Bidder: $10.73 billion (39.7%; last week 29.6%)
Bid to Cover Ratio: 4.12 (last week 4.25)
Investment Rate: 0.173% (last week 0.152%)
High Rate: 0.170% (allotted at high: 84.91%)

Tuesday June 22, 2010

4-week bill: $32 billion ($1 billion more than last week)

Primary Dealer: $17.54 billion (54.8%; last week 52.3%)
Direct Bidder: $7.05 billion (22%; last week 10.8%)
Indirect Bidder: $7.14 billion (22.3%; last week 36.2%)
Bid to Cover Ratio: 3.70 (last week 4.36)
Investment Rate: 0.086% (last week 0.030%)
High Rate: 0.085% (allotted at high: 58.75%)

In addition, SOMA* purchased $2.42 billion 4-week bill.
2-year note: $40 billion ($2 billion less than last month)

Primary Dealer: $14.85 billion (37.1%; last month 48%)
Direct Bidder: $8.43 billion (21.1%; last month 15%)
Indirect Bidder: $16.39 billion (41%; last month 35.8%)
Bid to Cover Ratio: 3.45 (last month 2.93)
Interest Rate: 0.625% (last month 0.750%)
High Yield: 0.738% (allotted at high: 70.18%)

In addition, SOMA purchased $1.19 billion 2-year note.

Wednesday June 23, 2010

56-day CMB* under SFP*: $25 billion (same as last week)

Primary Dealer: $11.50 billion (46%; last week 73.6%)
Direct Bidder: $4.93 billion (19.7%; last week 14.6%)
Indirect Bidder: $8.57 billion (34.3%; last week 11.8%)
Bid to Cover Ratio: 4.33 (last week 4.11)
Investment Rate: 0.122% (last week 0.091%)
High Rate: 0.120% (allotted at high: 30.06%)
5-year note: $38 billion ($2 billion less than last month)

Primary Dealer: $20.74 billion (54.6%; last month 44.3%)
Direct Bidder: $4.04 billion (10.6%; last month 15%)
Indirect Bidder: $13.09 billion (34.4%; last month 40.4%)
Bid to Cover Ratio: 2.58 (last month 2.71)
Interest Rate: 1.875% (last month 2.125%)
High Yield: 1.995% (allotted at high: 18.36%)

In addition, SOMA purchased $1.13 billion 5-year note.

Thursday June 24, 2010

7-year note: $30 billion ($1 billion less than last month)

Primary Dealer: $11.75 billion (39.2%; last month 37.5%)
Direct Bidder: $2.94 billion (9.8%; last month 11.4%)
Indirect Bidder: 15.29 billion (51%; last month 51.1%)
Bid to Cover Ratio: 3.01 (last month 2.88)
Interest Rate: 2.500% (last month 2.750%)
High Yield: 2.575% (allotted at high: 65.69%)

In addition, SOMA purchased $893 million 7-year note.

Total for the week: $219 billion

Bills: $111 billion
Notes: $108 billion

Total for June 2010 so far: $670 billion

Bills: $492 billion
Notes and bonds: $178 billion

Additional purchase by SOMA for June 2010 so far: $22.047 billion

Bills: $18.43 billion
Notes and bonds: $3.617 billion

Treasury Auction Result for the Week of June 14, 2010

2010-06-19T22:40:00.000-07:00

The US Treasury Department auctioned the following Treasury securities this week.

Monday June 14, 2010

13-week bill: $27 billion (same as last week)

Primary Dealer: $15.22 billion (56.4%; last week 47%)
Direct Bidder: $2.60 billion (9.6%; last week 6.9%)
Indirect Bidder: $7.78 billion (28.8%; last week 41%)
Bid to Cover Ratio: 4.93 (last week 4.80)
Investment Rate: 0.066% (last week 0.132%)
High Rate: 0.065% (allotted at high: 33.83%)

26-week bill: $27 billion (same as last week)

Primary Dealer: $14.96 billion (55.4%; last week 39.5%)
Direct Bidder: $2.77 billion (10.3%; last week 14.7%)
Indirect Bidder: $7.98 billion (29.6%; last week 41.4%)
Bid to Cover Ratio: 4.25 (last week 4.53)
Investment Rate: 0.152% (last week 0.213%)
High Rate: 0.150% (allotted at high: 92.33%)

Tuesday June 15, 2010

4-week bill: $31 billion (same as last week)

Primary Dealer: $16.21 billion (52.3%; last week 61.5%)
Direct Bidder: $3.34 billion (10.8%; last week 22.4%)
Indirect Bidder: $11.22 billion (36.2%; last week 15.3%)
Bid to Cover Ratio: 4.36 (last week 4.32)
Investment Rate: 0.030% (last week 0.091%)
High Rate: 0.030% (allotted at high: 47.96%)

In addition, SOMA* purchased $6.29 billion 4-week bill.

Wednesday June 16, 2010

56-day CMB* under SFP*: $25 billion (same as last week)

Primary Dealer: $18.41 billion (73.6%; last week 71.5%)
Direct Bidder: $3.65 billion (14.6%; last week 10.9%)
Indirect Bidder: $2.94 billion (11.8%; last week 17.5%)
Bid to Cover Ratio: 4.11 (last week 4.24)
Investment Rate: 0.091% (last week 0.096%)
High Rate: 0.090% (allotted at high: 44.16%)

Total for the week: $110 billion

Bills: $110 billion

Total for June 2010 so far: $451 billion

Bills: $381 billion
Notes and bonds: $70 billion

Additional purchase by SOMA in June 2010: $16.414 billion

Bills: $16.01 billion
Notes and bonds: $0.404 billion

Treasury Auction Schedule for the Week of June 7, 2010 (Updated with Results)

2010-06-06T22:27:00.000-07:00

The US Treasury Department will auction the following Treasury securities for the week of June 7, 2010.

Monday June 7, 2010

13-week bill: $27 billion (same as last week)

Primary Dealer: $12.69 billion
Indirect Bidder: $11.06 billion
Indirect Bidder Percentage: 41% (last week 42.8%)
Direct Bidder: $1.87 billion (6.92%; last week 16.9%)
Bid to Cover Ratio: 4.80 (last week 4.51)
Investment Rate: 0.132% (last week 0.162%)
High Rate: 0.130% (allotted at high: 32.05%)
26-week bill: $27 billion (same as last week)

Primary Dealer: $10.66 billion
Indirect Bidder: $11.18 billion
Indirect Bidder Percentage: 41.4% (last week 28.3%)
Direct Bidder: $3.96 billion (14.7%; last week 16.2%)
Bid to Cover Ratio: 4.53 (last week 4.01)
Investment Rate: 0.213% (last week 0.223%)
High Rate: 0.210% (allotted at high: 30.61%)

Tuesday June 8, 2010

4-week bill: $31 billion (same as last week)

Primary Dealer: $19.05 billion (61.5%)
Indirect Bidder: $4.75 billion
Indirect Bidder Percentage: 15.3% (last week 39.4%)
Direct Bidder: $6.95 billion (22.4%; last week 16.1%)
Bid to Cover Ratio: 4.32 (last week 4.51)
Investment Rate: 0.091% (last week 0.132%)
High Rate: 0.090% (allotted at high: 3.6%)

In addition, SOMA* purchased $ 3.78 billion 4-week bill.
3-year note: $36 billion ($2 billion less than last month)

Primary Dealer: $13.29 billion (36.9%)
Indirect Bidder: $16.78 billion
Indirect Bidder Percentage: 46.6% (last month 50.4%)
Direct Bidder: $5.86 billion (16.3%; last month 16.4%)
Bid to Cover Ratio: 3.23 (last month 3.27)
Interest Rate: 1.125% (last month 1.375%)
High Yield: 1.220% (allotted at high: 58.71%)

In addition, SOMA purchased $208 million 3-year note.

Wednesday June 9, 2010

5-day CMB: $26 billion

Primary Dealer: $22.44 billion
Indirect Bidder: $0.135 billion
Direct Bidder: $3.43 billion
Bid to Cover Ratio: 4.20
Investment Rate: 0.162% (higher than this week's 13-week bill at 0.132%)
High Rate: 0.160% (allotted at high: 17.38%)
56-day CMB* under SPF*: $25 billion

Primary Dealer: $17.88 billion (71.5%)
Indirect Bidder: $4.38 billion
Indirect Bidder Percentage: 17.5% (last week 35%)
Direct Bidder: $2.72 billion (10.9%; last week 8.04%)
Bid to Cover Ratio: 4.24 (last week 4.47)
Investment Rate: 0.096% (last week 0.142%)
High Rate: 0.095% (allotted at high: 36.12%)
9-year 11-month note: $21 billion (1st reopening, original issue May 2010 $24 billion)

Primary Dealer: $9.71 billion (46.2%)
Indirect Bidder: $8.41 billion
Indirect Bidder Percentage: 40.0% (original issue 41.6%)
Direct Bidder: $2.83 billion (13.5%; original issue 24.8%)
Bid to Cover Ratio: 3.24 (original issue 2.96)
Interest Rate: 3.500%
High Yield: 3.242% (allotted at high 87.15%) (original issue high yield 3.548%)
(It is not usual to have High Yield lower than Interest Rate in Treasury notes and bonds.)

In addition, SOMA purchased $121 million 9-year 11-month note.

Thursday June 10, 2010

29-year 11-month bond: $13 billion (1st reopening, original issue May 2010 $16 billion)

Primary Dealer: $5.67 billion (43.6%)
Indirect Bidder: $4.67 billion
Indirect Bidder Percentage: 35.9% (original issue 32.4%)
Direct Bidder: $2.63 billion (20.2%; original issue 21.8%)
Bid to Cover Ratio: 2.87 (original issue 2.60)
Interest Rate: 4.375%
High Yield: 4.182% (allotted at high 84.84%) (original issue high yield 4.449%)
(It is not usual to have High Yield lower than Interest Rate in Treasury notes and bonds.)

In addition, SOMA purchased $75 million 29-year 11-month bond.

Total for the week: $206 billion

Bills: $136 billion
Notes and bonds: $70 billion

Total for June 2010 so far: $341 billion

Bills: $271 billion
Notes and bonds: $70 billion

Additional purchase by SOMA for June 2010 so far: $10.124 billion

Bills: $9.72 billion
Notes and bonds: $0.404 billion

Treasury Auction Schedule for the Week of June 1, 2010 (Updated with Results)

2010-06-06T22:00:00.000-07:00

The US Treasury Department auctioned the following Treasury securities for the week of June 1, 2010.

Tuesday June 1, 2010

13-week bill: $27 billion (same as last week)

Primary Dealer: $9.48 billion
Indirect Bidder: $11.56 billion
Indirect Bidder Percentage: 42.8% (last week 21.4%)
Direct Bidder: $4.55 billion (16.9%; last week 12.8%)
Bid to Cover Ratio: 4.51 (last week 4.21)
Investment Rate: 0.162% (last week 0.167%)
High Rate: 0.160% (allotted at high: 16.14%)
26-week bill: $27 billion ($1 billion more than last week)

Primary Dealer: $13.96 billion
Indirect Bidder: $7.64 billion
Indirect Bidder Percentage: 28.3% (last week 34.2%)
Direct Bidder: 4.37 billion (16.2%; last week 12%)
Bid to Cover Ratio: 4.01 (last week 4.10)
Investment Rate: 0.223% (last week 0.223%)
High Rate: 0.220% (allotted at high: 73.80%)

Wednesday, June 2, 2010

4-week bill: $31 billion (same as last week)

Primary Dealer: $13.49 billion
Indirect Bidder: $12.22 billion
Indirect Bidder Percentage: 39.4% (last week 8.5%)
Direct Bidder: $5.00 billion (16.13%; last week 20.1%)
Bid to Cover Ratio: 4.51 (last week 3.87)
Investment Rate: 0.132% (last week 0.157%)
High Rate: 0.130% (allotted at high: 93.14%)

In addition, SOMA* purchased $5.94 billion 4-week bill.
56-day CMB* under SFP*: $25 billion

Primary Dealer: $14.24 billion
Indirect Bidder: $8.75 billion
Indirect Bidder Percentage: 35% (last week 14.1%)
Direct Bidder: $2.01 billion (8.04%; last week 15.1%)
Bid to Cover Ratio: 4.47 (last week 4.08)
Investment Rate: 0.142% (last week 0.152%)
High Rate: 0.140% (allotted at high: 26.89%)
52-week bill: $25 billion ($1 billion less than last month)

Primary Dealer: $6.85 billion
Indirect Bidder: $13.40 billion
Indirect Bidder Percentage: 53.6% (last month 40.9%)
Direct Bidder: $4.53 billion (18.12%; last month 15.9%)
Bid to Cover Ratio: 4.59 (last month 4.01)
Investment Rate: 0.371% (last month 0.427%)
High Rate: 0.365% (allotted at high: 90.68%)

Total for the week: $135 billion

Bills: $135billion

Total for June 2010 so far: $135 billion

Bills: $135 billion

Additional purchase by SOMA* for June 2010 so far: $5.94 billion

Bills: $5.94 billion

May 2010 Treasury Auction

2010-05-31T17:29:00.000-07:00

Treasury Auction Schedule for the Week of May 24, 2010 (Updated with Results)

2010-05-23T18:21:00.000-07:00

The US Treasury Department will auction the following Treasury securities this week.

Monday May 24, 2010

13-week bill: $27 billion ($1 billion more than last week)

Primary Dealer: $15.59 billion
Indirect Bidder: $5.79 billion
Indirect Bidder Percentage: 21.4% (last week 36.8%)
Direct Bidder: $3.45 billion (12.8%; last week 14.4%)
Bid to Cover Ratio: 4.21 (last week 4.33)
Investment Rate: 0.167% (last week 0.162%)
High Rate: 0.165% (allotted at high 21.94%)
26-week bill: $26 billion (same as last week)

Primary Dealer: $12.22 billion
Indirect Bidder: $8.88 billion
Indirect Bidder Percentage: 34.2% (last week 29%)
Direct Bidder: $3.11 billion (12%; last week 12.6%)
Bid to Cover Ratio: 4.10 (last week 4.06)
Investment Rate: 0.223% (last week 0.233%)
High Rate: 0.220% (allotted at high: 98.59%)

Tuesday May 25, 2010

4-week bill: $31 billion (same as last week)

Primary Dealer: $20.91 billion
Indirect Bidder: $2.62 billion
Indirect Bidder Percentage: 8.5% (last week 15.4%)
Direct Bidder: $6.22 billion (20.1%; last week 17.3%)
Bid to Cover Ratio: 3.87 (last week 3.72)
Investment Rate: 0.157% (last week 0.172%)
High Rate: 0.155% (allotted at high: 37.71%)

In addition, SOMA* purchased $2.42 billion 4-week bill.
2-year note: $42 billion ($2 billion less than last month)

Primary Dealer: $20.18 billion
Indirect Bidder: $15.04 billion
Indirect Bidder Percentage: 35.8% (last month 30.7%)
Direct Bidder: $6.30 billion (15%; last month 21.2%)
Bid to Cover Ratio: 2.93 (last month 3.03)
Interest Rate: 0.750% (last month 1%)
High Yield: 0.769% (allotted at high: 91.01%)

In addition, SOMA purchased $913 million 2-year note.

Wednesday May 26, 2010

56-day CMB* under SFP* for the Federal Reserve: $25 billion (same as last week)

Primary Dealer: $17.71 billion
Indirect Bidder: $3.52 billion
Indirect Bidder Percentage: 14.1% (last week 29.5%)
Direct Bidder: $3.77 billion (15.1%; last week 23.7%)
Bid to Cover Ratio: 4.08 (last week 4.73)
Investment Rate: 0.152% (last week 0.162%)
High Rate: 0.150% (allotted at high 74.88%)
5-year note: $40 billion ($2 billion less than last month)

Primary Dealer: 17.70 billion
Indirect Bidder: $16.17 billion
Indirect Bidder Percentage: 40.4% (last month 48.8%)
Direct Bidder: $5.99 billion (15%; last month 14.3%)
Bid to Cover Ratio: 2.71 (last month 2.75)
Interest Rate: 2.125% (last month 2.5% )
High Yield: 2.130% (allotted at high: 15.05%)

In addition, SOMA purchased $869 million 5-year note.

Thursday May 27, 2010

7-year note: $31 billion ($1 billion less than last month)

Primary Dealer: $11.62 billion
Indirect Bidder: $15.83 billion
Indirect Bidder Percentage: 51.1% (last month 59.4%)
Direct Bidder: $3.52 billion (11.4%; last month 12.2%)
Bid to Cover Ratio: 2.88 (last month 2.82)
Interest Rate: 2.750% (last month 3.125%)
High Yield: 2.815% (allotted at high: 87.74%)

In addition, SOMA purchased $674 million 7-year note.

Total for the week: $222 billion

Bills: $109 billion
Notes: $113 billion

Total for May 2010: $639 billion

Bills: $448 billion
Notes and Bonds: $191 billion

Additional purchase by SOMA for May 2010 so far: $27.676 billion

Bills: $18.43 billion
Notes and Bonds: $9.246 billion

Treasury Auction Result for the Week of May 17, 2010

2010-05-23T18:00:00.000-07:00

The US Treasury Department auctioned the following Treasury securities this week.

Monday May 17, 2010

13-week bill: $26 billion (same as last week)

Primary Dealer: $11.22 billion
Indirect Bidder: $9.56 billion
Indirect Bidder Percentage: 36.8% (last week 34.1%)
Direct Bidder: $3.74 billion (14.4%; last week 10.1%)
Bid to Cover Ratio: 4.33 (last week 4.44)
Investment Rate: 0.162% (last week 0.157%)
High Rate: 0.160% (allotted at high: 96.72%)
26-week bill: $26 billion (same as last week)

Primary Dealer: $13.86 billion
Indirect Bidder: $7.55 billion
Indirect Bidder Percentage: 29% (last week 44.5%)
Direct Bidder: $3.27 billion (12.6%; last week 11.8%)
Bid to Cover Ratio: 4.06 (last week 4.35)
Investment Rate: 0.233% (last week 0.0.233%)
High Rate: 0.230% (allotted at high: 0.82%)

Tuesday May 18, 2010

4-week bill: $31 billion (same as last week)

Primary Dealer: $20.59 billion
Indirect Bidder: $4.77 billion
Indirect Bidder Percentage: 15.4% (last week 13.1%)
Direct Bidder: $5.35 billion (17.3%; last week 22.5%)
Bid to Cover Ratio: 3.72 (last week 4.22)
Investment Rate: 0.172% (last week 0.152%)
High Rate: 0.170% (allotted at high: 48.54%)

SOMA purchased additional $6.29 billion 4-week bill.

Wednesday May 19, 2010

56-day CMB* under SFP* (to be used by the Federal Reserve): $25 billion

Primary Dealer: $11.70 billion
Indirect Bidder: $7.37 billion
Indirect Bidder Percentage: 29.5% (last week 31%)
Direct Bidder: $5.92 billion (23.7%; last week 19.7%)
Bid to Cover Ratio: 4.73 (last week 4.64)
Investment Rate: 0.162% (last week 0.152%)
High Rate: 0.160% (allotted at high: 51.47%)

Total for the week: $108 billion

Bills: $108 billion

Total for May 2010 so far: $417 billion

Bills: $339 billion
Notes and Bonds: $78 billion

Additional purchase by SOMA for May 2010 so far: $22.80 billion

Bills: $16.01 billion
Notes and Bonds: $6.79 billion

Treasury Auction Schedule for the Week of May 10, 2010 (Updated with Results)

2010-05-13T20:05:00.000-07:00

The US Treasury Department auctions the following Treasury securities for the week of May 10, 2010.

Monday May 10, 2010

13-week bill: $26 billion ($2 billion more than last week)

Primary Dealer: $13.04 billion
Indirect Bidder: $8.86 billion
Indirect Bidder Percentage: 34.1% (last week 25.3%)
Direct Bidder: $2.63 billion (10.1%; last week 11%)
Bid to Cover Ratio: 4.44 (last week 4.55)
Investment Rate: 0.157% (last week 0.167%)
High Rate: 0.155% (allotted at high 74.21%)
26-week bill: $26 billion ($1 billion more than last week)

Primary Dealer: $9.99 billion
Indirect Bidder: $11.57 billion
Indirect Bidder Percentage:44.5% (last week 37.5%)
Direct Bidder: $3.06 billion (11.8%; last week 12.4%)
Bid to Cover Ratio: 4.35 (last week 4.32)
Investment Rate: 0.233%(last week 0.249%)
High Rate: 0.230% (allotted at high 18.25%)

Tuesday May 11, 2010

4-week bill: $31 billion ($8 billion more than last week, $16 billion more than 2 weeks ago)

Primary Dealer: $19.73 billion
Indirect Bidder: $4.05 billion
Indirect Bidder Percentage: 13.1% (last week 15.9%)
Direct Bidder: $6.97 billion (22.5%; last week 22.2%)
Bid to Cover Ratio: 4.22 (last week 4.82)
Investment Rate: 0.152% (last week 0.152%)
High Rate: 0.150% (allotted at high: 8.27%)

In addition, SOMA* purchased $3.78 billion 4-week bill.
3-year note: $38 billion ($2 billion less than last month)

Primary Dealer: $12.36 billion
Indirect Bidder: $19.17 billion
Indirect Bidder Percentage: 50.4% (last month 52.2%)
Direct Bidder: $6.25 billion (16.4%; last month 10.7%)
Bid to Cover Ratio: 3.27 (last month 3.10)
Interest Rate: 1.375% (last month 1.750%)
High Yield: 1.414% (allotted at high 22.27%)

In addition, SOMA purchased $3.31 billion 3-year note.

Wednesday May 12, 2010

56-day CMB* (under SFP* to be used solely by the Federal Reserve; the 12th straight week of issuing CMB under SFP; the SFP account balance at the Federal Reserve is slightly below $200 billion): $25 billion

Primary Dealer: $12.31 billion
Indirect Bidder: $7.77 billion
Indirect Bidder Percentage: 31% (last week 5.4%)
Direct Bidder: $4.92 billion (19.7%; last week 25.4%)
Bid to Cover Ratio: 4.64 (last week 4.47)
Investment Rate: 0.152% (last week 0.152%)
High Rate: 0.150% (allotted at high 8.42%)
10-year note: $24 billion ($1 billion less than the last original issue in February 2010)

Primary Dealer: $7.92 billion
Indirect Bidder: $9.99 billion
Indirect Bidder Percentage: 41.6% (last original issue 32.9%)
Direct Bidder: $5.96 billion (24.8%; last original issue 12.9%)
Bid to Cover Ratio: 2.96 (last original issue 2.67)
Interest Rate: 3.500% (last original issue 3.625%)
High Yield: 3.548% (allotted at high 94.55%)

In addition, SOMA purchased $2.09 billion 10-year note.

Thursday May 13, 2010

30-year bond: $16 billion (same as the last original issue in February 2010)

Primary Dealer: $7.29 billion
Indirect Bidder: $5.19 billion
Indirect Bidder Percentage: 32.4% (last original issue 28.5%)
Direct Bidder: $3.49 billion (21.8%; last original issue 24.1%)
Bid to Cover Ratio: 2.60 (last original issue 2.36)
Interest Rate: 4.375% (last original issue 4.625%)
High Yield: 4.490% (allotted at high 72.22%)

In addition, SOMA purchased $1.39 billion 30-year bond.

Total for the week: $186 billion

Bills: $108 billion
Notes and bonds: $78 billion

Total for May 2010 so far: $309 billion

Bills: $231 billion
Notes and Bonds: $78 billion

Additional purchase by SOMA for May 2010: $16.51 billion

Bills: $9.72 billion
Notes and bonds: $6.79 billion

Treasury Auction Schedule for the Week of May 3, 2010 (Updated with Results)

2010-05-09T17:16:00.000-07:00

The US Treasury Department will auction the following Treasury securities for the week of May 3, 2010.

Monday May 3, 2010

13-week bill: $24 billion (same as last week)

Primary Dealer: $13.86 billion
Indirect Bidder: $6.07 billion
Indirect Bidder Percentage: 25.3% (last week 19%)
Direct Bidder: $2.65 billion (11%; last week 17.5%)
Bid to Cover Ratio: 4.55 (last week 4.69)
Investment Rate: 0.167% (last week 0.152%)
High Rate: 0.165% (allotted at high 66.06%)
26-week bill: $25 billion (same as last week)

Primary Dealer: $11.14 billion
Indirect Bidder: $9.38 billion
Indirect Bidder Percentage: 37.5% (last week 27.5%)
Direct Bidder: $3.09 billion (12.4%; last week 11.9%)
Bid to Cover Ratio: 4.32 (last week 4.66)
Investment Rate: 0.249% (last week 0.244%)
High Rate: 0.245% (allotted at high 18.25%)

Tuesday May 4, 2010

4-week bill: $23 billion ($8 billion more than last week)

Primary Dealer: $13.96 billion
Indirect Bidder: $3.66 billion
Indirect Bidder Percentage: 15.9% (last week 21.9%)
Direct Bidder: $5.11 billion (22.2%; last week 22.3%)
Bid to Cover Ratio: 4.82 (last week 5.47)
Investment Rate: 0.152% (last week 0.132%)
High Rate: 0.150% (allotted at high: 0.87%)

In addition, SOMA purchased $5.94 billion 4-week bill.
52-week bill: $26 billion (same as last month)

Primary Dealer: $11.03 billion
Indirect Bidder: $10.64 billion
Indirect Bidder Percentage: 40.9% (last month 40.7%)
Direct Bidder: $4.13 billion (15.9%; last month 15.7%)
Bid to Cover Ratio: 4.01 (last month 3.66)
Investment Rate: 0.427% (last month 0.494%)
High Rate: 0.420% (allotted at high 65.39%)

Wednesday May 5, 2010

56-day CMB* (under SFP* to be used solely by the Federal Reserve; the 11th straight week of issuing CMB under SFP; the SFP account balance at the Federal Reserve is slightly below $200 billion): $25 billion

Primary Dealer: $17.28 billion
Indirect Bidder: $1.35 billion
Indirect Bidder Percentage: 5.4% (last week 13.2%)
Direct Bidder: $6.36 billion (25.4%; last week 16.8%)
Bid to Cover Ratio: 4.47 (last week 4.18)
Investment Rate: 0.152% (last week 0.157%)
High Rate: 0.150% (allotted at high 10.19%)

Total for the week: $123 billion

Bills: $123 billion

Total for May 2010 so far: $123 billion

Bills: $123 billion

Additional purchase by SOMA for May 2010: $5.94 billion

Bills: $5.94 billion

Treasury Auction Schedule for the Week of April 26, 2010 (Updated with Results)

2010-04-29T19:30:00.000-07:00

The US Treasury Department will auction the following Treasury securities for the week of April 26, 2010.

Monday April 26, 2010

13-week bill: $24 billion (drop of $1 billion from this week)

Primary Dealer: $13.04 billion
Indirect Bidder: $4.56 billion
Indirect Bidder Percentage: 19% (last week 28.1%)
Direct Bidder: $4.19 billion (17.5%; last week 12.9%)
Bid to Cover Ratio: 4.69 (last week 4.66)
Investment Rate: 0.152% (last week 0.147%)
High Rate: 0.150% (allotted at high 72.61%)
26-week bill: $25 billion (same as this week)

Primary Dealer: $13.41 billion
Indirect Bidder: $6.87 billion
Indirect Bidder Percentage: 27.5% (last week 27.5%)
Direct Bidder: $2.97 billion (11.9%; last week 10.7%)
Bid to Cover Ratio: 4.42 (last week 4.38)
Investment Rate: 0.244% (last week 0.223%)
High Rate: 0.240% (allotted at high 20.89%)
5-year TIPS: $11 billion (issued once a year, with reopening in 6 months)

Primary Dealer: $6.80 billion
Indirect Bidder: $2.47 billion
Indirect Bidder Percentage: 22.5% (last year 24.8%)
Direct Bidder: $1.39 billion (12.6%; last year 0.6%)
Bid to Cover Ratio: 3.15 (last year 2.66)
Interest Rate: 0.5% (last year 1.250%)
High Yield: 0.550%(allotted at high 30.03%)

In addition, SOMA* purchased $235 million 5-year TIPS.

Tuesday April 27, 2010

4-week bill: $15 billion ($3 billion less than last week)

Primary Dealer: $7.44 billion
Indirect Bidder: $3.28 billion
Indirect Bidder Percentage: 21.9% (last week 15.3%)
Direct Bidder: $3.34 billion (22.3%; last week 22.2%)
Bid to Cover Ratio: 5.47 (last week 5.01)
Investment Rate: 0.132% (last week 0.142%)
High Rate: 0.130% (allotted at high 55.62%)

In addition, SOMA purchased $2.42 billion 4-week bill.
2-year note: $44 billion (same as last month)

Primary Dealer: $20.70 billion
Indirect Bidder: $13.51 billion
Indirect Bidder Percentage: 30.7% (last month 34.4%)
Direct Bidder: $9.32 billion (21.2%; last month 13.7%)
Bid to Cover Ratio: 3.03 (last month 3.00)
Interest Rate: 1% (last month 1%)
High Yield: 1.024% (allotted at high 63.61%; last month high yield 1%)

In addition, SOMA purchased $939 million 2-year note.

Wednesday April 28, 2010

56-day CMB: $25 billion (under SFP* to be used solely by the Federal Reserve; the 10th straight week of issuing CMB under SFP)

Primary Dealer: $17.48 billion
Indirect Bidder: $3.31 billion
Indirect Bidder Percentage: 13.2% (last week 17.8%)
Direct Bidder: $4.21 billion (16.8%; last week 13.2%)
Bid to Cover Ratio: 4.18 (last week 4.31)
Investment Rate: 0.157% (last week 0.152%)
High Rate: 0.155% (allotted at high: 97.74%)
5-year note: $42 billion (same as last month)

Primary Dealer: $15.39 billion
Indirect Bidder: $20.49 billion
Indirect Bidder Percentage: 48.8% (last month 39.5%)
Direct Bidder: $6.00 billion (14.3%; last month 10.7%)
Bid to Cover Ratio: 2.75 (last month 2.55)
Interest Rate: 2.5% (last month 2.5%)
High Yield: 2.540% (allotted at high: 90.56%; last month high yield 2.605%)

In addition, SOMA purchased $896 million 5-year note.

Thursday April 29, 2010

7-year note: $32 billion (same as last month)

Primary Dealer: $9.04 billion
Indirect Bidder: $19.02 billion
Indirect Bidder Percentage: 59.4% (last month 41.8%)
Direct Bidder: $3.90 billion (12.2%; last month 17.2%)
Bid to Cover Ratio: 2.82 (last month 2.61)
Interest Rate: 3.125% (last month 3.250%)
High Yield: 3.210% (allotted at high 93.61%; last month high yield 3.374%)

In addition, SOMA purchased $683 million 7-year note.

Total for the week: $218 billion

Bills: $89 billion
Notes and bonds: $129 billion

Total for April 2010: $652 billion

Bills: $449 billion
Notes and bonds: $203 billion

Additional Purchase by SOMA for April 2010: $26.605 billion

Bills: $18.43 billion
Notes and bonds: $8.175 billion

Treasury Auction Schedule for the Week of April 19, 2010 (Updated with Results)

2010-04-20T12:00:00.000-07:00

The US Treasury Department will auction the following Treasury securities this week.

Monday April 19, 2010

13-week bill: $25 billion (drop of $1 billion from last week)

Primary Dealer: $13.19 billion
Indirect Bidder: $7.03 billion
Indirect Bidder Percentage: 28.1% (last week 29.2%)
Direct Bidder: $3.23 billion (12.9%; last week 10.9%)
Bid to Cover Ratio: 4.66 (last week 4.52)
Investment Rate: 0.147% (last week 0.157%)
High Rate: 0.145% (allotted at high: 59.11%)
26-week bill: $25 billion (drop of 2 billion from last week)

Primary Dealer: $14.06 billion
Indirect Bidder: $6.88 billion
Indirect Bidder Percentage: 27.5% (last week 44.7%)
Direct Bidder: $2.68 billion (10.7%; last week 14.9%)
Bid to Cover Ratio: 4.38 (last week 4.40)
Investment Rate: 0.223% (last week 0.244%)
High Rate: 0.220% (allotted at high: 76.29%)

Tuesday April 20, 2010

4-week bill: $18 billion (drop of $8 billion from last week)

Primary Dealer: $10.98 billion
Indirect Bidder: $2.76 billion
Indirect Bidder Percentage: 15.3% (last week 22%)
Direct Bidder: $4.00 billion (22.2%; last week 17.1%)
Bid to Cover Ratio: 5.01 (last week 4.35)
Investment Rate: 0.142% (last week 0.147%)
High Rate: 0.140% (allotted at high: 14.55%)

In addition, SOMA* purchased $6.29 billion 4-week bill.

Wednesday April 21, 2010

56-day CMB*: $25 billion (under SFP* to be used solely by the Federal Reserve; 9th straight week of issuing CMB under SFP)

Primary Dealer: $17.26 billion
Indirect Bidder: $4.45 billion
Indirect Bidder Percentage: 17.8% (last week 24.3%)
Direct Bidder: $3.30 billion (13.2%; last week 19.5%)
Bid to Cover Ratio: 4.31 (last week 4.60)
Investment Rate: 0.152% (last week 0.152%)
High Rate: 0.150% (allotted at high: 16.48%)

Total for the week: $93 billion

Bills: $93 billion

Total for April 2010 so far: $434 billion

Bills: $360 billion
Notes and bonds: $74 billion

Additional Purchase by SOMA for April 2010 so far: $21.432 billion

Bills: $16.01 billion
Notes and bonds: $5.422 billion

Treasury Auction Schedule and Result for the Week of April 12, 2010

2010-04-19T21:00:00.000-07:00

(Updated with results)

The US Treasury Department auctioned the following Treasury securities for the week of April 12.

Monday April 12, 2010

13-week bill: $26 billion (drop of $2 billion from last week)

Primary Dealer: $12.49 billion
Indirect Bidder: $7.58 billion
Indirect Bidder Percentage: 29.2% (last week 34.8%)
Direct Bidder: $4.46 billion (17.2%; last week 10.9%)
Bid to Cover Ratio: 4.52 (last week 3.60)
Investment Rate: 0.157% (last week 0.178%)
High Rate: 0.155% (allotted at high: 67.57%)
26-week bill: $27 billion (drop of 2 billion from last week)

Primary Dealer: $9.45 billion
Indirect Bidder: $12.08 billion
Indirect Bidder Percentage: 44.7% (last week 43.3%)
Direct Bidder: $4.02 billion (14.9%; last week 18.5%)
Bid to Cover Ratio: 4.40 (last week 3.63)
Investment Rate: 0.244% (last week 0.269%)
High Rate: 0.240% (allotted at high: 0.76%)

Tuesday April 13, 2010

4-week bill: $26 billion (drop of $8 billion from last week)

Primary Dealer: $15.59 billion
Indirect Bidder: $5.72 billion
Indirect Bidder Percentage: 22% (last week 27.5%)
Direct Bidder: $4.44 billion (17.1%; last week 16.5%)
Bid to Cover Ratio: 4.35 (last week 3.56)
Investment Rate: 0.147% (last week 0.162%)
High Rate: 0.145% (allotted at high: 57.27%)

In addition, SOMA* purchased $3.78 billion 4-week bill.

Wednesday April 14, 2010

56-day CMB*: $25 billion (under SFP* to be used solely by the Federal Reserve; 8th straight week of issuing CMB under SFP)

Primary Dealer: $14.04 billion
Indirect Bidder: $6.08 billion
Indirect Bidder Percentage: 24.3% (last week 19.2%)
Direct Bidder: $4.88 billion (19.5%; last week 21.7%)
Bid to Cover Ratio: 4.60 (last week 3.85)
Investment Rate: 0.152% (last week 0.167%)
High Rate: 0.150% (allotted at high: 55.65%)

Total for the week: $104 billion

Bills: $104 billion

Total for April 2010 so far: $341 billion

Bills: $267 billion
Notes and bonds: $74 billion

Additional Purchase by SOMA for April 2010 so far: $15.142 billion

Bills: $9.72 billion
Notes and bonds: $5.422 billion

April 2010 Treasury Auction Tally

2010-04-07T22:58:00.001-07:00

Treasury Auction Schedule and Result for the Week of April 5, 2010 (Updated with Results)

2010-04-07T22:35:00.000-07:00

The US Treasury Department will auction the following Treasury securities this week.

Monday April 5, 2010

13-week bill: $28 billion (same as last week)

Primary Dealer: $13.91 billion
Indirect Bidder: $9.74 billion
Indirect Bidder Percentage: 34.8% (last week 48.2%)
Direct Bidder: $3.06 billion (10.9%; last week $2.10 billion)
Bid to Cover Ratio: 3.60 (last week 4.16)
Investment Rate: 0.178% (last week 0.147%)
High Rate: 0.175% (allotted at high: 30.70%)
26-week bill: $29 billion (same as last week)

Primary Dealer: $9.91 billion
Indirect Bidder: $12.56 billion
Indirect Bidder Percentage: 43.3% (last week 51.3%)
Direct Bidder: $5.36 billion (18.5%; last week $2.12 billion)
Bid to Cover Ratio: 3.63 (last week 3.90)
Investment Rate: 0.269% (last week 0.244%)
High Rate: 0.265% (allotted at high: 39.79%)

Tuesday April 6, 2010

4-week bill: $34 billion ($3 billion more than last week)

Primary Dealer: $18.76 billion
Indirect Bidder: $9.36 billion
Indirect Bidder Percentage: 27.5% (last week 26.4%)
Direct Bidder: $5.60 billion (16.5%; last week $5.36 billion)
Bid to Cover Ratio: 3.56 (last week 3.58)
Investment Rate: 0.162% (last week 0.152%)
High Rate: 0.160% (allotted at high: 76.03%)

In addition, SOMA* purchased $5.94 billion 4-week bill.
52-week bill: $26 billion (same as last month)

Primary Dealer: $11.10 billion
Indirect Bidder: $10.57 billion
Indirect Bidder Percentage: 40.7% (last month 43%)
Direct Bidder: $4.13 billion (15.9%; last month $2.87 billion)
Bid to Cover Ratio: 3.66 (last month 4.00)
Investment Rate: 0.494% (last month 0.381%)
High Rate: 0.485% (allotted at high: 1.56%)
3-year note: $40 billion (same as last month)

Primary Dealer: $14.78 billion
Indirect Bidder: $20.87 billion
Indirect Bidder Percentage: 52.2% (last month 51.6%)
Direct Bidder: $4.29 billion (10.7%; last month $4.12 billion)
Bid to Cover Ratio: 3.10 (last month 3.13)
Interest Rate: 1.750% (last month 1.375%)
High Yield: 1.776% (allotted at high: 44.71%)

In addition, SOMA purchased $2.93 billion 3-year note.

Wednesday April 7,2010

56-day CMB under SFP* for the Federal Reserve: $25 billion

Primary Dealer: $14.78 billion
Indirect Bidder: $4.80 billion
Indirect Bidder Percentage: 19.2% (last week 22.1%)
Direct Bidder: $5.43 billion (21.7%; last week $3.34B)
Bid to Cover Ratio: 3.85 (last week 3.61)
Investment Rate: 0.167% (last week 0.162%)
High Rate: 0.165% (allotted at high: 43.62%; last week high rate 0.160%)
9-year 10-month note (reopening): $21 billion (same as last reopening; total after auction $67 billion)

Primary Dealer: $8.48 billion
Indirect Bidder: $9.01 billion
Indirect Bidder Percentage: 42.9% (last month 34.9%; original issue 32.9%)
Direct Bidder: $3.41 billion (16.2%; last month $3.65B; original issue $3.22B)
Bid to Cover Ratio: 3.72 (last month 3.45; original issue 2.67)
Interest Rate: 3.625%
High Yield: 3.900% (allotted at high: 99.62%) (last month high yield 3.735%; original issue high yield 3.692%)

In addition, SOMA purchased $1.54 billion 9-year 10-month note.

Thursday April 8, 2010

29-year 10-month bond (reopening): $13 billion (same as last reopening; total after auction $42 billion)

Primary Dealer: $4.89 billion
Indirect Bidder: $4.78 billion
Indirect Bidder Percentage: 36.8% (1st reopening 23.8%; original issue 28.5%)
Direct Bidder: $3.31 billion (25.5%; 1st reopening 29.6%; original issue 24.1%)
Bid to Cover Ratio: 2.73 (1st reopening 2.89; original issue 2.36)
Interest Rate: 4.625%
High Yield: 4.770% (allotted at high: 30.96%) (high yield 1st reopening 4.679%; original issue 4.720%)

In addition, SOMA purchased $952 million 29-year 10-month bond.

Total for the week: $216 billion

Bills: $142 billion
Notes and bonds: $74 billion

Total for April 2010 so far: $237 billion

Bills: $163 billion
Notes and bonds: $74 billion

Additional purchase by SOMA in April so far: $11.362 billion

Bills: $5.94 billion
Notes and bonds: $5.422 billion

Auctions of Cash Management Bills in 2010 (Updated)

2010-04-04T21:25:00.000-07:00

Auctions of CMB (Cash Management Bills) under SFP (Supplemental Financing Program) are quietly increasing in frequency and in amounts raised.

CMB is a short-term security sold by the U.S. Department of the Treasury. The maturity on a CMB can range from a few days to six months. The money raised through these issues is used by the Treasury to meet any temporary shortfalls. CMBs tend to pay higher yields than bills with fixed maturities, but their shorter maturities lead to lower overall interest expense.

But there is another type of CMB since October 2008 (SFP, or Supplemental Financing Program) , whose proceeds are used exclusively by the Federal Reserve for its various lending and credit programs to support the financial industry and also to support its own balance sheet.

Auctions of CMB under SFP have increased recently, after a relatively quiet period since November last year.

Regular CMB issues in 2010 so far:

March 30: 18-day CMB, $17 billion
April 1: 10-day CMB, $21 billion

CMB issues under SFP in 2010 so far:

February 3: 21-day CMB, $5 billion
February 24: 56-day CMB, $25 billion
March 3: 56-day CMB, $25 billion
March 10: 56-day CMB, $25 billion
March 17: 56-day CMB, $25 billion
March 24: 56-day CMB, $25 billion
March 31: 56-day CMB, $25 billion
April 7: 56-day CMB, $25 billion (scheduled)

There is no announcement either from Treasury or from the Federal Reserve as to how the money thus raised is being spent, and that has been the case ever since the Supplemental Financing Program started in October 2008.

Treasury Auction Result for the Week of March 29, 2010

2010-04-01T09:42:00.001-07:00

The U.S. Treasury Department auctioned the following Treasury securities for the week of March 29, 2010.

Monday March 29, 2010

13-week bill: $28 billion (same as last week)

Primary Dealer: $10.30 billion
Indirect Bidder: $13.49 billion
Indirect Bidder Percentage: 48.2% (last week 33.9%)
Direct Bidder: $2.10 billion (7.5%; last week $1.93 billion)
Bid to Cover Ratio: 4.16 (last week 4.27)
Investment Rate: 0.147% (last week 0.157%; lower rate than 4-week bill)
High Rate: 0.145% (allotted at high: 91.75%)
26-week bill: $29 billion (same as last week)

Primary Dealer: $10.08 billion
Indirect Bidder: $14.87 billion
Indirect Bidder Percentage: 51.3% (last week 44.8%)
Direct Bidder: $2.12 billion (7.3%; last week $2.67 billion)
Bid to Cover Ratio: 3.90 (last week 4.20)
Investment Rate: 0.244% (last week 0.244%)
High Rate: 0.240% (allotted at high: 41.89%)

Tuesday March 30, 2010

4-week bill: $31 billion (same as last week)

Primary Dealer: $16.33 billion
Indirect Bidder: $8.18 billion
Indirect Bidder Percentage: 26.4% (last week 42.9%)
Direct Bidder: $5.36 billion (17.3%; last week $3.39 billion)
Bid to Cover Ratio: 3.58 (last week 4.29)
Investment Rate: 0.152% (last week 0.106%)
High Rate: 0.150% (allotted at high: 5.63%)

In addition, SOMA* purchased $2.42 billion 4-week bill.

18-day CMB* (under SFP* for the use by the Federal Reserve): $17 billion

Primary Dealer: $12.64 billion
Indirect Bidder: $2.57 billion
Indirect Bidder Percentage: 15.1%
Direct Bidder: $1.79 billion
Bid to Cover Ratio: 4.27
Investment Rate: 0.152% (cf. investment rate of 4-week bill: 0.152%)
High Rate: 0.150% (allotted at high: 53.77%)

Wednesday March 31, 2010

56-day CMB* (under SFP* for the use by the Federal Reserve): $25 billion

Primary Dealer: $16.12 billion
Indirect Bidder: $5.53 billion
Indirect Bidder Percentage: 22.1%
Direct Bidder: $3.34 billion
Bid to Cover Ratio: 3.61
Investment Rate: 0.162%
High Rate: 0.160% (allotted at high: 13.02%)

Total for the week: $130 billion

Bills: $130 billion

Total for March 2010: $793 billion

Bills: $601 billion
Notes and bonds: $192 billion

Additional purchase by SOMA in March: $25.715 billion

Bills: $20.85 billion
Notes and bonds: $4.865 billion

Treasury Auction Result for the Week of March 22, 2010

2010-04-01T08:54:00.000-07:00

The U.S. Treasury Department auctioned the following Treasury securities for the week of March 22, 2010.

Monday March 22, 2010

13-week bill: $28 billion ($1 billion more than last week)

Primary Dealer: $14.69 billion
Indirect Bidder: $9.49 billion
Indirect Bidder Percentage: 33.9% (last week 27.1%)
Direct Bidder: $1.93 billion (6.9%; last week $2.12 billion)
Bid to Cover Ratio: 4.27 (last week 4.19)
Investment Rate: 0.157% (last week 0.167%)
High Rate: 0.155% (allotted at high: 64.37%)
26-week bill: $29 billion (same as last week)

Primary Dealer: $11.57 billion
Indirect Bidder: $12.99 billion
Indirect Bidder Percentage: 44.8% (last week 36.2%)
Direct Bidder: $2.67 billion (9.2%; last week $2.57 billion)
Bid to Cover Ratio: 4.20 (last week 3.67)
Investment Rate: 0.244% (last week 0.244%)
High Rate: 0.240% (allotted at high: 19.98%)

Tuesday March 23, 2010

4-week bill: $31 billion (same as last week)

Primary Dealer: $13.97 billion
Indirect Bidder: $13.29 billion
Indirect Bidder Percentage: 42.9% (last week 13.1%)
Direct Bidder: $3.39 billion (10.9%; last week $6.67billion)
Bid to Cover Ratio: 4.29 (last week 3.79)
Investment Rate: 0.106% (last week 0.137%)
High Rate: 0.105% (allotted at high: 88.57%)

In addition, SOMA* purchased $6.29 billion 4-week bill.

2-year note: $44 billion (same as last month)

Primary Dealer: $22.37 billion
Indirect Bidder: $15.14 billion
Indirect Bidder Percentage: 34.4% (last month 53%)
Direct Bidder: $6.01 billion (last month $3.57 billion)
Bid to Cover Ratio: 3.00 (last month 3.33)
Interest Rate: 1% (last month 0.875%)
High Yield: 1.000% (allotted at high: 56.32%) (last month high yield: 0.895%)

In addition, SOMA purchased $1.49 billion 2-year note.

Wednesday March 24, 2010

56-day CMB* (under SFP* for the use by the Federal Reserve): $25 billion

Primary Dealer: $18.66 billion
Indirect Bidder: $3.16 billion
Indirect Bidder Percentage: 27.8%
Direct Bidder: $3.18 billion
Bid to Cover Ratio: 4.40
Investment Rate: 0.132%
High Rate: 0.130% (allotted at high: 22.48%)
5-year note: $42 billion (same as last month)

Primary Dealer: $20.75 billion
Indirect Bidder: $16.60 billion
Indirect Bidder Percentage: 39.5% (last month 40.2%)
Direct Bidder: $4.50 billion (last month $5.37 billion)
Bid to Cover Ratio: 2.55 (last month 2.75)
Interest Rate: 2.5% (last month 2.375%)
High Yield: 2.605% (allotted at high: 29.97%) (last month high yield 2.395%)

In addition, SOMA purchased $1.42 billion 5-year note.

Thursday March 25, 2010

7-year note: $32 billion (same as last month)

Primary Dealer: $15.98 billion
Indirect Bidder: $13.38 billion
Indirect Bidder Percentage: 41.8% (last month 40.3%)
Direct Bidder: $2.59 billion (last month $5.51 billion)
Bid to Cover Ratio: 2.61 (last month 2.98)
Interest Rate: 3.250% (last month 3%)
High Yield: 3.374% (allotted at high: 83.04%) (last month high yield 3.078%)

In addition, SOMA purchased $1.08 billion 7-year note.

Total for the week: $231 billion

Bills: $113 billion
Notes: $118 billion

Total for March 2010 so far: $663 billion

Bills: $471 billion
Notes and bonds: $192 billion

Additional purchase by SOMA in March so far: $23.295 billion

Bills: $18.43 billion
Notes and bonds: $4.865 billion

Treasury Auction Result for the Week of March 15, 2010

2010-03-23T19:22:00.000-07:00

The U.S. Treasury Department auctioned the following Treasury securities for the week of March 15, 2010.

Monday March 15, 2010

13-week bill: $27 billion ($1 billion more than last week)

Primary Dealer: $16.31 billion
Indirect Bidder: $7.32 billion
Indirect Bidder Percentage: 27.1% (last week 39.7%)
Direct Bidder: $2.12 billion (7.9%; last week $2.01 billion)
Bid to Cover Ratio: 4.19 (last week 4.27)
Investment Rate: 0.167% (last week 0.152%)
High Rate: 0.165% (allotted at high: 35.83%)
26-week bill: $29 billion ($1 billion more than last week)

Primary Dealer: $14.48 billion
Indirect Bidder: $10.51 billion
Indirect Bidder Percentage: 36.2% (last week 33%)
Direct Bidder: $2.57 billion (8.9%; last week $2.25 billion)
Bid to Cover Ratio: 3.67 (last week 3.81)
Investment Rate: 0.244% (last week 0.208%)
High Rate: 0.240% (allotted at high: 75.52%)

Tuesday March 16, 2010

4-week bill: $31 billion (same as last week)

Primary Dealer: $20.05 billion
Indirect Bidder: $4.06 billion
Indirect Bidder Percentage: 13.1% (last week 21.5%)
Direct Bidder: $6.67 billion (21.5%; last week $3.79 billion)
Bid to Cover Ratio: 3.79 (last week 3.90)
Investment Rate: 0.137% (last week 0.112%)
High Rate: 0.135% (allotted at high: 31.73%)

In addition, SOMA* purchased $3.78 billion 4-week bill.

Wednesday March 17, 2010

56-day CMB* (under SFP* for the use by the Federal Reserve): $25 billion

Primary Dealer: $14.23 billion
Indirect Bidder: $6.95 billion
Indirect Bidder Percentage: 27.8%
Direct Bidder: $3.82 billion
Bid to Cover Ratio: 4.71
Investment Rate: 0.147%
High Rate: 0.145% (allotted at high: 14.55%)

Total for the week: $112 billion

Bills: $112 billion

Total for March 2010 so far: $432 billion

Bills: $358 billion
Notes and bonds: $74 billion

Additional purchase by SOMA in March so far: $13.015 billion

Bills: $12.14 billion
Notes and bonds: $875 million

March 2010 Treasury Auction

2010-03-14T20:23:00.001-07:00

Treasury Auction Result for the Week of March 8, 2010

2010-03-14T19:31:00.000-07:00

The U.S. Treasury Department auctioned the following Treasury securities for the week of March 8, 2010.

Monday March 8, 2010

13-week bill: $26 billion (same as last week)

Primary Dealer: $12.30 billion
Indirect Bidder: $10.33 billion
Indirect Bidder Percentage: 39.7% (last week 35.6%)
Direct Bidder: $2.01 billion (7.7%; last week $3.47 billion)
Bid to Cover Ratio: 4.27 (last week 4.42)
Investment Rate: 0.152% (last week 0.127%)
High Rate: 0.150% (allotted at high: 66.02%)
26-week bill: $28 billion (same as last week)

Primary Dealer: $15.17 billion
Indirect Bidder: $9.25 billion
Indirect Bidder Percentage: 33% (last week 36.1%)
Direct Bidder: $2.25 billion (8%; last week $3.71 billion)
Bid to Cover Ratio: 3.81 (last week 4.44)
Investment Rate: 0.208% (last week 0.188%)
High Rate: 0.205 (allotted at high: 33.00%)

Tuesday March 9, 2010

4-week bill: $31 billion (same as last week)

Primary Dealer: $20.22 billion
Indirect Bidder: $6.68 billion
Indirect Bidder Percentage: 21.5% (last week 17.7%)
Direct Bidder: $3.79 billion (12.2%; last week $2.70 billion)
Bid to Cover Ratio: 3.90 (last week 4.34)
Investment Rate: 0.112% (last week 0.081%)
High Rate: 0.110% (allotted at high: 75.56%)

In addition, SOMA* purchased $5.94 billion 4-week bill.

52-week bill: $26 billion (same as last month)

Primary Dealer: $11.80 billion
Indirect Bidder: $11.17 billion
Indirect Bidder Percentage: 43% (last month 39.5%)
Direct Bidder: $2.87 billion (11%; last month $4.14 billion)
Bid to Cover Ratio: 4.00 (last month 3.65)
Investment Rate: 0.381% (last month 0.325%)
High Rate: 0.375% (allotted at high: 65.65%)
3-year note: $40 billion (same as last month)

Primary Dealer: $15.06 billion
Indirect Bidder: $20.65 billion
Indirect Bidder Percentage: 51.6% (last month 50.9%)
Direct Bidder: $4.12 billion (10.3%; last month $4.01 billion)
Bid to Cover Ratio: 3.13 (last month 2.83)
Interest Rate: 1.375% (same as last month)
High Yield: 1.437% (allotted at high: 15.66%; last month high yield: 1.377%)

In addition, SOMA* purchased $473 million 3-year note.

Wednesday March 10, 2010

56-day CMB* (for the use of the Federal Reserve under SFP*): $25 billion

Primary Dealer: $19.33 billion
Indirect Bidder: $3.08 billion
Indirect Bidder Percentage: 18.2%
Direct Bidder: $2.59 billion
Bid to Cover Ratio: 4.54
Investment Rate: 0.147% (last week: 0.127%)
High Rate: 0.145% (allotted at high: 26.09%)
9-year 11-month note (reopening): $21 billion (last month original issue $25 billion)

Primary Dealer: $9.86 billion
Indirect Bidder: $7.32 billion
Indirect Bidder Percentage: 34.9% (last month 32.9%)
Direct Bidder: $3.65 billion (17.4%; last month $3.22 billion)
Bid to Cover Ratio: 3.45 (last month 2.67)
Interest Rate: 3.625%
High Yield: 3.735% (allotted at high: 70.94%; last month high yield: 3.692%)

In addition, SOMA* purchased $248 million 9-year 11-month note.

Thursday March 11, 2010

29-year 11-month bond (reopening): $13 billion (last month original issue $16 billion)

Primary Dealer: $6.03 billion
Indirect Bidder: $3.10 billion
Indirect Bidder Percentage: 23.8% (last month 28.5%)
Direct Bidder: $3.85 billion (29.6%; last month $3.85 billion)
Bid to Cover Ratio: 2.89 (last month 2.36)
Interest Rate: 4.625%
High Yield: 4.679% (allotted at high: 82.80%; last month high yield: 4.720%)

In addition, SOMA* purchased $154 million 29-year 11-month bond.

Total for the week: $210 billion

Bills: $136 billion
Notes and bonds: $74 billion

Total for March 2010 so far: $320 billion

Bills: $246 billion
Notes and bonds: $74 billion

Additional purchase by SOMA in March so far: $9.235 billion

Bills: $8.36 billion
Notes and bonds: $875 million

Treasury Auction Result for March 1, 2, 3, 2010

2010-03-03T08:43:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities this week.

Monday March 1, 2010

13-week bill: $26 billion (same as last week)

Primary Dealer: $11.67 billion
Indirect Bidder: $9.25 billion
Indirect Bidder Percentage: 35.6% (last week 30.3%)
Direct Bidder: $3.47 billion (13.3%; last week $4.65 billion)
Bid to Cover Ratio: 4.42 (last week 4.04)
Investment Rate: 0.127% (last week 0.100%)
High Rate: 0.125% (allotted at high: 92.53%)
26-week bill: $28 billion (same as last week)

Primary Dealer: $12.79 billion
Indirect Bidder: $10.10 billion
Indirect Bidder Percentage: 36.1% (last week 38.2%)
Direct Bidder: $3.71 billion (13.3%; last week $4.47 billion)
Bid to Cover Ratio: 4.44 (last week 4.29)
Investment Rate: 0.188% (last week 0.193%)
High Rate: 0.185 (allotted at high: 99.91%)

Tuesday March 2, 2010

4-week bill: $31 billion (same as last week)

Primary Dealer: $22.57 billion
Indirect Bidder: $5.49 billion
Indirect Bidder Percentage: 17.7% (last week 19.2%)
Direct Bidder: $2.70 billion (%; last week $2.91 billion)
Bid to Cover Ratio: 4.34 (last week 3.82)
Investment Rate: 0.081% (last week 0.056%)
High Rate: 0.081% (allotted at high: 76.46%)

In addition, SOMA* purchased $2.42 billion 4-week bill.

Wednesday March 3, 2010

56-day CMB* (for the use of the Federal Reserve under SFP*): $25 billion

Primary Dealer: $18.38 billion
Indirect Bidder: $4.56 billion
Indirect Bidder Percentage: 18.2%
Direct Bidder: $2.05 billion (%)
Bid to Cover Ratio: 4.29
Investment Rate: 0.127% (cf. 13-week bill rate: 0.127%)
High Rate: 0.125% (allotted at high: 54.22%)

Total for the week: $110 billion

Bills: $110 billion

Total for March 2010 so far: $110 billion

Bills: $110 billion

Additional purchase by SOMA in March: $2.42 billion

Bills: $2.42 billion

February 2010 Treasury Auction

2010-02-27T22:55:00.000-08:00

Trends in Treasury Notes and Bonds Issuance

2010-02-27T20:24:00.000-08:00

Between July 2009 and February 2010,

2-year note went from $42 billion per month for $44 billion per month (4.8% increase);
3-year note from $35 billion to $40 billion (14.3% increase);
5-year note from $39 billion to $42 billion (7.7% increase);
7-year note from $28 billion to $32 billion (14.3% increase);
10-year note from $19 billion to $25 billion (31.6% increase);
30-year bond from 11 billion to $16 billion (45.5% increase).

February 2010 saw the highest sale of Treasury notes and bonds in the 8 months that this blog has followed, despite February being the shortest month of the year.

Treasury Auction Result for 2/25/2010

2010-02-25T19:46:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

7-year note: $32 billion (same as last month)

Primary Dealer: $13.57 billion
Indirect Bidder: $12.89 billion
Indirect Bidder Percentage: 40.3% (last month 51%)
Direct Bidder: $5.51 billion (17.2%; last month $3.78 billion)
Bid to Cover Ratio: 2.98 (last month 2.85)
Interest Rate: 3% (last month 3.125%)
High Yield: 3.078% (allotted at high: 9.60%) (last month high yield 3.128%)

In addition, SOMA* purchased $786 million 7-year note.

Total for the week: $236 billion

Bills: $110 billion
Notes and bonds: $126 billion

Total for February 2010: $569 billion

Bills: $362 billion
Notes and bonds: $207 billion

Additional purchase by SOMA in February: $19.996 billion

Bills: $12.49 billion
Notes and bonds: $7.506 billion

Treasury Auction Result for 2/24/2010

2010-02-24T11:08:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

56-day CMB*: $25 billion (for use by the Federal Reserve under SFP*)

Primary Dealer: $20 billion
Indirect Bidder: $2.21 billion
Indirect Bidder Percentage: 8.8%
Direct Bidder: $2.79 billion
Bid to Cover Ratio: 3.93
Investment Rate: 0.101% (cf. 13-week (91 day) bill investment rate: 0.101%)
High Rate: 0.100% (allotted at high: 55.04%)

5-year note: $42 billion (same as last month)

Primary Dealer: $19.58 billion
Indirect Bidder: $16.87 billion
Indirect Bidder Percentage: 40.2% (last month 52.8%)
Direct Bidder: $5.37 billion (last month $3.12 billion)
Bid to Cover Ratio: 2.75 (last month 2.80)
Interest Rate: 2.375% (last month 2.250%)
High Yield: 2.395% (allotted at high: 32.83%) (last month high yield 2.370%)

In addition, SOMA purchased $1.03 billion 5-year note.

Total for the week: $204 billion

Bills: $110 billion
Notes and bonds: $94 billion

Total for February 2010 so far: $537 billion

Bills: $362 billion
Notes and bonds: $175 billion

Additional purchase by SOMA in February so far: $19.21 billion

Bills: $12.49 billion
Notes and bonds: $6.72 billion

Treasury Auction Result for 2/23/2010

2010-02-23T23:07:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

4-week bill: $31 billion (down $1 billion from last week)

Primary Dealer: $21.21 billion
Indirect Bidder: $5.96 billion
Indirect Bidder Percentage: 19.2% (last week 27.6%)
Direct Bidder: $2.91 billion (last week $3.54 billion)
Bid to Cover Ratio: 3.82 (last week 3.97)
Investment Rate: 0.056% (last week 0.061%)
High Rate: 0.055% (allotted at high: 27.75%)

In addition, SOMA* purchased $6.29 billion 4-week note.

2-year note: $44 billion (same as last month)

Primary Dealer: $16.65 billion
Indirect Bidder: $23.33 billion
Indirect Bidder Percentage: 53% (last month 42.6%)
Direct Bidder: $3.57 billion (last month $4.69 billion)
Bid to Cover Ratio: 3.33 (last month 3.13)
Interest Rate: 0.875% (last month 0.875%)
High Yield: 0.895% (allotted at high: 66.57%) (last month high yield 0.880%)

In addition, SOMA purchased $1.08 billion 2-year note.

Total for the week: $137 billion

Bills: $85 billion
Notes and bonds: $52 billion

Total for February 2010 so far: $470 billion

Bills: $337 billion
Notes and bonds: $133 billion

Additional purchase by SOMA in February so far: $18.18 billion

Bills: $12.49 billion
Notes and bonds: $5.69 billion

Treasury Auction Result for 2/22/2010

2010-02-22T11:06:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $26 billion (up $1 billion from last week)

Primary Dealer: $11.38 billion
Indirect Bidder: $7.87 billion
Indirect Bidder Percentage: 30.3% (last week 34.8%)
Direct Bidder: $4.65 billion (last week $2.17 billion)
Bid to Cover Ratio: 4.04 (last week 4.05)
Investment Rate: 0.101% (last week 0.101%)
High Rate: 0.100% (allotted at high: 75.72%)
26-week bill: $28 billion (same as last week)

Primary Dealer: $11.16 billion
Indirect Bidder: $10.70 billion
Indirect Bidder Percentage: 38.2% (last week 31.5%)
Direct Bidder: $4.47 billion (last week $3.34 billion)
Bid to Cover Ratio: 4.29 (last week 3.84)
Investment Rate: 0.193% (last week 0.188%)
High Rate: 0.190% (allotted at high: 42.84%)

30-year TIPS: $8 billion (1st issuance of 30-year TIPS since 2001 when Treasury issued 30-1/2 year TIPS; 1999 was the last year Treasury issued 30-year TIPS)

Primary Dealer: $4.05 billion
Indirect Bidder: $3.36 billion
Indirect Bidder Percentage: 27.6%
Direct Bidder: $0.505 billion
Bid to Cover Ratio: 2.45 (last week 4.44)
Interest Rate: 2.125% (last week 0.056%)
High Yield: 2.229% (allotted at high: 66.57%)

Total for the week: $62 billion

Bills: $54 billion
Notes and bonds: $8 billion

Total for February 2010 so far: $395 billion

Bills: $306 billion
Notes and bonds: $89 billion

Additional purchase by SOMA in February so far: $10.81 billion

Bills: $6.20 billion
Notes and bonds: $4.61 billion

Treasury Auction Results for 2/16, 2/17/2010

2010-02-19T10:08:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities on February 16 and 17, 2010.

Tuesday February 16, 2010

13-week bill: $25 billion (up $1 billion from last week)

Primary Dealer: $12.60 billion
Indirect Bidder: $8.70 billion
Indirect Bidder Percentage: 34.8% (last week 27.3%)
Direct Bidder: $2.17 billion (last week $3.92 billion)
Bid to Cover Ratio: 4.05 (last week 4.46)
Investment Rate: 0.101% (last week 0.112%)
High Rate: 0.100% (allotted at high: 48.39%)
26-week bill: $28 billion (up $1 billion from last week)

Primary Dealer: $14.38 billion
Indirect Bidder: $8.83 billion
Indirect Bidder Percentage: 31.5% (last week 27.3%)
Direct Bidder: $3.34 billion (last week $4.64 billion)
Bid to Cover Ratio: 3.84 (last week 3.83)
Investment Rate: 0.188% (last week 0.173%)
High Rate: 0.185% (allotted at high: 20.42%)

Wednesday February 17, 2010

4-week bill: $32 billion (up $8 billion from last week)

Primary Dealer: $19.43 billion
Indirect Bidder: $8.82 billion
Indirect Bidder Percentage: 27.6% (last week 35.3%)
Direct Bidder: $3.54 billion (last week $2.96 billion)
Bid to Cover Ratio: 3.97 (last week 4.44)
Investment Rate: 0.061% (last week 0.056%)
High Rate: 0.060% (allotted at high: 61.57%)

In addition, SOMA purchased $3.78 billion 4-week bill.

Total for the week: $85 billion

Bills: $85 billion

Total for February 2010 so far: $333 billion

Bills: $252 billion
Notes and bonds: $81 billion

Additional purchase by SOMA in February so far: $10.81 billion

Bills: $6.20 billion
Notes and bonds: $4.61 billion

Treasury Auction Results for 2/10, 2/11/2010

2010-02-13T19:31:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities on February 11 and 12, 2010.

Wednesday February 10, 2010

10-year note: $25 billion (last month reopening $21 billion)

Primary Dealer: $13.32 billion
Indirect Bidder: $8.22 billion
Indirect Bidder Percentage: 32.9% (last month 28.8%)
Direct Bidder: $3.22 billion (last month $3.61 billion)
Bid to Cover Ratio: 2.67 (last month 3.00)
Interest Rate: 3.625% (last month 3.375%)
High Yield: 3.692% (allotted at high: 95.17%) (last month high yield: 3.754%)

In addition, SOMA* purchased $2.81 billion 10 year note.

Thursday February 11, 2010

30-year bond: $16 billion (last month reopening $13 billion)

Primary Dealer: $7.57 billion
Indirect Bidder: $4.56 billion
Indirect Bidder Percentage: 28.5% (last month 40.7%)
Direct Bidder: $3.85 billion (last month $0.64 billion)
Bid to Cover Ratio: 2.36 (last month 2.68)
Interest Rate: 4.625% (last month 4.375%)
High Yield: 4.720% (allotted at high: 61.57%) (last month high yield: 4.640%)

In addition, SOMA purchased $1.80 billion 30-year bond.

Total for the week: $158 billion

Bills: $77 billion
Notes and bonds: $81 billion

Total for February 2010 so far: $248 billion

Bills: $167 billion
Notes and bonds: $81 billion

Additional purchase by SOMA in February so far: $7.03 billion

Bills: $2.42 billion
Notes and bonds: $4.61 billion

Treasury Auction Results for 2/8/, 2/9/2010

2010-02-09T19:37:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities on Monday February 8, and Tuesday February 9, 2010.

Monday February 8, 2010

13-week bill: $24 billion (up$1 billion from last week)

Primary Dealer: $12.20 billion
Indirect Bidder: $6.56 billion
Indirect Bidder Percentage: 27.3% (last week 25.7%)
Direct Bidder: $3.92 billion (last week 1.42 billion)
Bid to Cover Ratio: 4.46 (last week 4.06)
Investment Rate: 0.112% (last week 0.096%)
High Rate: 0.110% (allotted at high: 7.85%)

26-week bill: $27 billion (up $1 billion from last week)

Primary Dealer: $10.86 billion
Indirect Bidder: $9.97 billion
Indirect Bidder Percentage: 27.3% (last week 53.6%)
Direct Bidder: $4.64 billion (last week 1.63 billion)
Bid to Cover Ratio: 3.83 (last week 3.88)
Investment Rate: 0.173% (last week 0.167%)
High Rate: 0.170% (allotted at high: 43.40%)

Tuesday February 9, 2010

4-week bill: $24 billion (up $7 billion from last week)

Primary Dealer: $12.31 billion
Indirect Bidder: $8.47 billion
Indirect Bidder Percentage: 35.3% (last week 41.5%)
Direct Bidder: $2.96 billion (last week 1.15 billion)
Bid to Cover Ratio: 4.44 (last week 4.98)
Investment Rate: 0.056% (last week 0.041%)
High Rate: 0.055% (allotted at high: 9.29%)

In addition, SOMA* purchased $5.94 billion 4-week bill.

52-week bill: $26 billion (same as last month)

Primary Dealer: $11.30 billion
Indirect Bidder: $10.26 billion
Indirect Bidder Percentage: 39.5% (last month 53%)
Direct Bidder: $4.14 billion (last month 1.76 billion)
Bid to Cover Ratio: 3.65 (last month 3.63)
Investment Rate: 0.325% (last month 0.341%)
High Rate: 0.320% (allotted at high: 89.79%)

3-year note: $40 billion (same as last month)

Primary Dealer: $15.42 billion
Indirect Bidder: $20.37 billion
Indirect Bidder Percentage: 50.9% (last month 37.9%)
Direct Bidder: $4.01 billion (last month 9.34 billion)
Bid to Cover Ratio: 2.83 (last month 2.98)
Interest Rate: 1.375% (last month 1.375%)
High Yield: 1.377% (allotted at high: 26.75%) (last month high yield: 1.490%)

In addition, SOMA* purchased $4.49 billion 3-year note.

Total for the week so far: $141 billion

Bills: $101 billion
Notes and bonds: $40 billion

Total for February 2010 so far: $207 billion

Bills: $167 billion
Notes and bonds: $40 billion

Additional purchase by SOMA in February so far: $12.85 billion

Bills: $8.36 billion
Notes and bonds: $4.49 billion

Treasury Auction Schedule for the Week of 2/8/2010

2010-02-04T22:58:00.000-08:00

The U.S. Treasury Department will auction the following Treasury securities next week.

Monday February 8, 2010

13-week bill: $24 billion (up $1 billion from this week)
26-week bill: $27 billion (up $1 billion from this week)

Tuesday February 9, 2010

52-week bill: $26 billion (same as last month)
3-year note: $40 billion (same as last month)

Wednesday February 10, 2010

10-year note: $25 billion (last month reopening $21 billion)

Thursday February 11, 2010

30-year bond: $16 billion (last month reopening $13 billion)

Total for the week: $158 billion

Bills: $77 billion
Notes and bonds: $81 billion

Total for February 2010 so far: $66 billion

Bills: $66 billion

Additional purchase by SOMA in February so far: $2.42 billion

Bills: $2.42 billion

Treasury Auction Result for the Week of 2/1/2010

2010-02-04T22:30:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury Securities this week.

Monday February 1, 2010

13-week bill: $23 billion (last week $23 billion)

Primary Dealer: $14.2 billion
Indirect Bidder: $5.90 billion
Indirect Bidder Percentage: 25.7% (last week 27.1%)
Direct Bidder: 1.42 billion (last week $2.48 billion)
Bid to Cover Ratio: 4.06 (last week 4.32)
Investment Rate: 0.096% (last week 0.056%)
High Rate: 0.095% (allotted at high: 90.06%)
26-week bill: $26 billion (last week $25 billion)

Primary Dealer: $9.28 billion
Indirect Bidder: $13.93 billion
Indirect Bidder Percentage: 53.6% (last week 45.1%)
Direct Bidder: $1.63 billion (last week $2.87 billion)
Bid to Cover Ratio: 3.88 (last week 4.12)
Investment Rate: 0.167% (last week 0.137%)
High Rate: 0.165% (allotted at high: 9.31%)

Tuesday February 2, 2010

4-week bill: $17 billion (last week $10 billion)

Primary Dealer: $8.55 billion
Indirect Bidder: $7.06 billion (last week
Indirect Bidder Percentage: 41.5% (last week 24.2%)
Direct Bidder: $1.15 billion (last week $0.42 billion)
Bid to Cover Ratio: 4.98 (last week 5.55)
Investment Rate: 0.041% (0%)
High Rate: 0.040% (allotted at high: 80.07%)

In addition, SOMA* purchased $2.42 billion 4-week bill.

Total for the week: $66 billion

Bills: $66 billion

Total for February 2010 so far: $66 billion

Bills: $66 billion

Additional Purchase by SOMA: $2.42 billion

Bills: $2.42 billion

4-Week Bill Auction August 2009 to February 2010

2010-02-01T16:48:00.000-08:00

After extremely low amount auctions in January 2010, the 4-week bill auction in the first week of February is set for tomorrow at $17 billion. January's $10 billion per week was almost as low as the pre-crisis level in 2007.

Treasury Auction Schedule for the Week of 2/1/2010

2010-01-31T22:43:00.000-08:00

The U.S. Treasury Department will auction the following Treasury Securities this week.

Monday February 1, 2010

13-week bill: $23 billion (last week $23 billion)
26-week bill: $26 billion (last week $25 billion)

Tuesday February 2, 2010

4-week bill: $17 billion (last week $10 billion)

Total for the week: $66 billion

Treasury Auction Result for 1/28/2010

2010-01-28T21:01:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

7-year note: $32 billion (same as last month)

Primary Dealer: $11.87 billion
Indirect Bidder: $16.33 billion
Indirect Bidder Percentage: 51% (last month 44.6%)
Direct Bidder: $3.78 billion (last month $2.11 billion)
Bid to Cover Ratio: 2.85 (last month 2.72)
Interest Rate: 3.125% (last month 3.250%)
High Yield: 3.127% (allotted at high: 36.66%)

In addition, SOMA* purchased $521 million 7-year note.

Total for the week: $176 billion

Bills: $58 billion
Notes: $118 billion

Total for January 2010: $470 billion

Bills: $268 billion
Notes and bonds: $202 billion

Additional purchase by SOMA* for January 2010 so far: $17.67 billion

Bills: $12.49 billion
Notes and bonds: $5.18 billion

Treasury Auction Result for 1/27/2010

2010-01-27T10:41:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

5-year note: $42 billion (same as last month)

Primary Dealer: $16.59 billion
Indirect Bidder: $22.19 billion
Indirect Bidder Percentage: 52.8% (last month 43.9%)
Direct Bidder: $3.12 billion (last month $billion)
Bid to Cover Ratio: 2.80 (last month 2.59)
Interest Rate: 2.250% (last month 2.625%)
High Yield: 2.370% (allotted at high: 45.09%)

In addition, SOMA* purchased $684 million 5-year note.

Total for the week so far: $144 billion

Bills: $58 billion
Notes: $86 billion

Total for January 2010 so far: $438 billion

Bills: $268 billion
Notes and bonds: $170 billion

Additional purchase by SOMA* for January 2010 so far: $17.149 billion

Bills: $12.49 billion
Notes and bonds: $4.659 billion

Treasury Auction Result for 1/26/2010

2010-01-26T09:52:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

4-week bill: $10 billion (same as last week)

Primary Dealer: $5.95 billion
Indirect Bidder: $2.42 billion
Indirect Bidder Percentage: 24.2% (last week 26.8%)
Direct Bidder: $0.42 billion (last week $1.16 billion)
Bid to Cover Ratio: 5.55 (last week 5.69)
Investment Rate: 0% (last week 0.005%)
High Rate: 0% (allotted at high: 49.21%)

In addition, SOMA* purchased $6.29 billion 4-week bill.

2-year note: $44 billion (same as last month)

Primary Dealer: $20.06 billion
Indirect Bidder: $18.75 billion
Indirect Bidder Percentage: 42.6% (last month 34.5%)
Direct Bidder: $4.69 billion (last month $8.49 billion)
Bid to Cover Ratio: 3.13 (last month 2.91)
Interest Rate: 0.875% (last month 1%)
High Yield: 0.880% (allotted at high: 88.79%)

In addition, SOMA* purchased $717 million 2-year note.

Total for the week so far: $102 billion

Bills: $58 billion
Notes: $44 billion

Total for January 2010 so far: $396 billion

Bills: $268 billion
Notes and bonds: $128 billion

Additional purchase by SOMA* for January 2010 so far: $16.465 billion

Bills: $12.49 billion
Notes and bonds: $3.975 billion

Treasury Auction Result for 1/25/2010

2010-01-25T09:48:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $23 billion (same as last week)

Primary Dealer: $12.03 billion
Indirect Bidder: $6.23 billion
Indirect Bidder Percentage: 27.1% (last week 47.5%)
Direct Bidder: $2.48 billion (last week $1.46 billion)
Bid to Cover Ratio: 4.32 (last week 4.52)
Investment Rate: 0.056% (last week 0.061%)
High Rate: 0.055% (allotted at high: 28.49%)

26-week bill: $25 billion (same as last week)

Primary Dealer: $8.92 billion
Indirect Bidder: $11.28 billion
Indirect Bidder Percentage: 45.1% (last week 57.7%)
Direct Bidder: $2.87 billion (last week $1.58 billion)
Bid to Cover Ratio: 4.12 (last week 4.11)
Investment Rate: 0.137% (last week 0.147%)
High Rate: 0.135% (allotted at high: 65.15%)

Total for the week so far: $48 billion

Bills: $48 billion

Total for January 2010 so far: $342 billion

Bills: $258 billion
Notes and bonds: $84 billion

Additional purchase by SOMA* for January 2010 so far: $9.458 billion

Bills: $6.20 billion
Notes and bonds: $3.258 billion

Treasury Auction Schedule for the Week of 1/25/2010

2010-01-25T09:27:00.000-08:00

The U.S. Treasury Department will auction the following Treasury securities this week.

Monday January 25, 2010

13-week bill: $23 billion (same as last week)
26-week bill: $25 billion (same as last week)

Tuesday January 26, 2010

4-week bill: $10 billion (same as last week)
2-year note: $44 billion (same as last month)

Wednesday January 27, 2010

5-year note: $42 billion (same as last month)

Thursday January 28, 2010

7-year note: $32 billion (same as last month)

Total for the Week: $176 billion

Bills: $58 billion
Notes and bonds: $118 billion

Total for January 2010 so far: $296 billion

Bills: $210 billion
Notes and bonds: $84 billion

Treasury Auction Result for the Week of 1/19/2010

2010-01-21T22:29:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities this week.

Monday January 19, 2010

13-week bill: $23 billion (last week $24 billion)

Primary Dealer: $9.04 billion
Indirect Bidder: $10.93 billion
Indirect Bidder Percentage: 47.5% (last week 23%)
Bid to Cover Ratio: 4.52 (last week 4.11)
Investment Rate: 0.061% (last week 0.041%)
High Rate: 0.060% (allotted at high: 39.42%)

26-week bill: $25 billion (last week $25 billion)

Primary Dealer: $7.58 billion
Indirect Bidder: $14.43 billion
Indirect Bidder Percentage: 57.7% (last week 27.8%)
Bid to Cover Ratio: 4.11 (last week 4.11)
Investment Rate: 0.147% (last week 0.132%)
High Rate: 0.145% (allotted at high: 7.69%)

Wednesday January 20, 2010

4-week bill: $10 billion (last week $10 billion)

Primary Dealer: $5.95 billion
Indirect Bidder: $2.68 billion
Indirect Bidder Percentage: 26.8% (last week 24.9%)
Bid to Cover Ratio: 5.69 (last week 6.63)
Investment Rate: 0.005% (last week 0%)
High Rate: 0.005% (allotted at high: 27.21%)

In addition, SOMA* purchased $3.78 billion 4-week bill.

Total for the week: $58 billion

Bills: $58 billion

Total for January 2010 so far: $296 billion

Bills: $210 billion
Notes and bonds: $84 billion

Additional purchase by SOMA* for January 2010 so far: $9.458 billion

Bills: $6.20 billion
Notes and bonds: $3.258 billion

* For details, scroll down to the bottom of page.

Treasury Auction Schedule for the Week of 1/19/2010

2010-01-18T23:24:00.000-08:00

The U.S. Treasury Department will auction the following Treasury securities this week.

Tuesday January 19, 2010

13-week bill: $23 billion (last week $24 billion)
26-week bill: $25 billion (last week $25 billion)

Wednesday January 20, 2010

4-week bill: TBA

Total for the week without 4-week bill: $48 billion

Bills: $48 billion

Total for January 2010 so far: $236 billion

Bills: $152 billion
Notes and bonds: $84 billion

Treasury Auction Result for 1/14/2010

2010-01-14T22:03:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

29-year 10-month bond (CUSIP 912810QD3, 2nd reopening, original issue November 2009): $13 billion (original issue Nov 09 $16 billion; 1st reopening Dec 09 $13 billion)

Primary Dealer: $7.06 billion
Indirect Bidder: $5.29 billion
Indirect Bidder Percentage: 40.7% (Dec 09: 40.1%; Nov 09: 43.9%)
Bid to Cover Ratio: 2.68 (Dec 09: 2.45; Nov 09: 2.26)
Interest Rate: 4.375%
High Yield: 4.640% (allotted at high: 27.21%)
(Dec 09 high yield: 4.520%; Nov 09: 4.469%)

In addition, SOMA* purchased $505 million 29-year 10-month bond.

Total for the week so far: $169 billion

Bills: $85 billion
Notes and bonds: $84 billion

Total for January 2010 so far: $236 billion

Bills: $152 billion
Notes and bonds: $84 billion

Additional purchase by SOMA* for January 2010 so far: $5.678 billion

Bills: $2.42 billion
Notes and bonds: $3.258 billion

* For details, scroll down to the bottom of page.

Treasury Auction Result for 1/13/2010

2010-01-13T10:58:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

9-year 10-month note (2nd reopening, original issue November 2009): $21 billion
(original issue Nov 09 $25 billion; 1st reopening Dec 09 $21 billion)

Primary Dealer: $11.18 billion
Indirect Bidder: $6.05 billion
Indirect Bidder Percentage: 28.8%(Dec 09: 34.8%; Nov 09: 46.9%)
Bid to Cover Ratio: 3.00 (Dec 09: 2.62; Nov 09: 2.81)
Interest Rate: 3.375%
High Yield: 3.754% (allotted at high: 49.95%)
(Dec 09 high yield: 3.448%; Nov 09: 3.470%)

In addition, SOMA* purchased $815 million 9-year 10-month note.

Total for the week so far: $156 billion

Bills: $85 billion
Notes and bonds: $71 billion

Total for January 2010 so far: $223 billion

Bills: $152 billion
Notes and bonds: $71 billion

Additional purchase by SOMA* for January 2010 so far: $5.173 billion

Bills: $2.42 billion
Notes and bonds: $2.753 billion

* For details, scroll down to the bottom of page.

Treasury Auction Result for 1/12/2010

2010-01-12T11:00:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

4-week bill: $10 billion (last week $16 billion)

Primary Dealer: $6.89 billion
Indirect Bidder: $2.49 billion
Indirect Bidder Percentage: 24.9% (last week 54.3%)
Bid to Cover Ratio: 6.63 (last week 5.50)
Investment Rate: 0% (last week 0.025%)
High Rate: 0% (allotted at high: 28.08%)

52-week bill: $26 billion (last month $27 billion)

Primary Dealer: $10.27 billion
Indirect Bidder: $13.79 billion
Indirect Bidder Percentage: 53% (last month 38.9%)
Bid to Cover Ratio: 3.63 (last month 3.08)
Investment Rate: 0.341% (last month 0.417%)
High Rate: 0.335% (allotted at high: 89.23%) (last month high rate 0.410%)

3-year note: $40 billion (last month $40 billion)

Primary Dealer: $14.41 billion
Indirect Bidder: $15.17 billion
Indirect Bidder Percentage: 37.9% (last month 60.6%)
Bid to Cover Ratio: 2.98 (last month 2.98)
Interest Rate: 1.375% (last month 1.125%)
High Yield: 1.490% (allotted at high: 79.20%) (last month high yield: 1.223%)

In addition, SOMA* purchased $1.55 billion 3-year note.

Total for the week so far: $135 billion

Bills: $85 billion
Notes and bonds: $50 billion

Total for January 2010 so far: $202 billion

Bills: $152 billion
Notes and bonds: $50 billion

Additional purchase by SOMA* for January 2010 so far: $4.358 billion

Bills: $2.42 billion
Notes and bonds: $1.938 billion

* For details, scroll down to the bottom of page.

Treasury Auction Result for 1/11/2010

2010-01-11T11:00:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $24 billion (last week $25 billion)

Primary Dealer: $14.04 billion
Indirect Bidder: $5.52 billion
Indirect Bidder Percentage: 23% (last week 40.1%)
Bid to Cover Ratio: 4.09 (last week 4.34)
Investment Rate: 0.041% (last week 0.081%)
High Rate: 0.040% (allotted at high: 17.72%)

26-week bill: $25 billion (last week $26 billion)

Primary Dealer: $14.21 billion
Indirect Bidder: $6.96 billion
Indirect Bidder Percentage: 27.8% (last week 59.3%)
Bid to Cover Ratio: 4.11 (last week 4.20)
Investment Rate: 0.132% (last week 0.183%)
High Rate: 0.130% (allotted at high: 55.07%)

10-year TIPS: $10 billion

Primary Dealer: $5.46 billion
Indirect Bidder: $3.96 billion
Indirect Bidder Percentage: 39.6% (July 09: 48%)
Bid to Cover Ratio: 2.65 (July 09: 2.51)
Interest Rate: 1.375% (July 09: 1.875%)
High Yield: 1.430% (allotted at high: 95.63%) (July 09 high yield: 1.920%)

In addition, SOMA* purchased $388 million 10-year TIPS.

Total for the week so far: $59 billion

Bills: $49 billion
Notes and bonds: $10 billion

Total for January 2010 so far: $126 billion

Bills: $116 billion
Notes and bonds: $10 billion

Additional purchase by SOMA* for January 2010 so far: $2.808 billion

Bills: $2.42 billion
Notes and bonds: $388 million

* For details, scroll down to the bottom of page.

Treasury Auction Schedule for the Week of 1/11/2010

2010-01-07T10:01:00.000-08:00

The U.S. Treasury Department will auction the following Treasury securities next week.

Monday January 11, 2010

13-week bill: $24 billion
26-week bill: $25 billion
10-year TIPS: $10 billion

Tuesday January 12, 2010

4-week bill: TBA
52-week bill: $26 billion (last month $27 billion)
3-year note: $40 billion (last month $40 billion)

Wednesday January 13, 2010

9-year 10-month note (2nd reopening, original issue November 2009): $21 billion
(original issue $25 billion; 1st reopening $21 billion)

Thursday January 14, 2010

29-year 10-month bond (2nd reopening, original issue November 2009): $13 billion
(original issue $16 billion; 1st reopening $13 billion)

Total for the week (without 4-week bill): $159 billion

Bills: $75 billion
Notes and Bonds: $84 billion

Treasury Auction Result for 1/5/2010

2010-01-05T10:15:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

4-week bill: $16 billion (last week $23 billion; week before last $28 billion)

Primary Dealer: $6.68 billion
Indirect Bidder: $8.68 billion
Indirect Bidder Percentage: 54.3% (last week 55.4%)
Bid to Cover Ratio: 5.50 (last week 3.95)
Investment Rate: 0.025% (last week 0.010%)
High Rate: 0.025% (allotted at high: 85.42%)

In addition, SOMA* purchased $2.42 billion 4-week bill.

Total for the week so far: $67 billion

Bills: $67 billion

Total for January 2010 so far: $67 billion

Bills: $67 billion

Additional purchase by SOMA* for January 2010 so far: $2.42 billion

Bills: $2.42 billion

* For details, scroll down to the bottom of page.

Auction Result Chart January 2010

2010-01-04T11:04:00.000-08:00

Treasury Auction Result for 1/4/2010

2010-01-04T09:25:00.001-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $25 billion (last week $28 billion)

Primary Dealer: $11.58 billion
Indirect Bidder: $10.03 billion
Indirect Bidder Percentage: 40.1% (last week 9.5%)
Bid to Cover Ratio: 4.34 (last week 3.39)
Investment Rate: 0.081% (last week 0.112%)
High Rate: 0.080% (allotted at high: 32.27%)

26-week bill: $26 billion (last week $29 billion)

Primary Dealer: $7.58 billion
Indirect Bidder: $15.43 billion
Indirect Bidder Percentage: 59.3% (last week 53.4%)
Bid to Cover Ratio: 4.20 (last week 3.57)
Investment Rate: 0.183% (last week 0.203%)
High Rate: 0.180% (allotted at high: 53.87%)

Total for the week so far: $51 billion

Bills: $51 billion

Total for January 2010 so far: $51 billion

Bills: $51 billion

Treasury Auction Schedule for the Week of 1/4/2010

2010-01-04T09:18:00.000-08:00

The U.S. Treasury Department will auction the following Treasury securities this week.

Monday January 4, 2010

13-week bill: $25 billion (last week $28 billion)
26-week bill: $26 billion (last week $29 billion)

Tuesday January 5, 2010

4-week bill: $16 billion

Total for the week: $67 billion

Treasury Issues from July to December 2009

2010-01-01T16:54:00.000-08:00

Treasury notes and bond issues each month were constant around $200 billion, even when the short-term funding needs (Treasury bills) fluctuated.

Treasury Auction Result for 12/30/2009

2009-12-30T10:17:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

36-day CMB: $5 billion (under SFP*, for use by the Federal Reserve)

Primary Dealer: $3.96 billion
Indirect Bidder: $1.03 billion
Indirect Bidder Percentage: 20.6%
Bid to Cover Ratio: 6.66
Investment Rate: 0%
High Rate: 0% (allotted at high: 29.83%)

7-year note (912828MD9): $32 billion (last month $32 billion)

Primary Dealer: $15.56 billion
Indirect Bidder: $14.27 billion
Indirect Bidder Percentage: 44.6% (last month 62.4%)
Bid to Cover Ratio: 2.72 (last month 2.76)
Interest Rate: 3.250% (last month 2.750%)
High Yield: 3.345% (allotted at high: 55.69%) (last month high yield 2.835%)

In addition, SOMA* purchased $948 million 7-year note.

Total for the week so far: $203 billion

Bills: $85 billion
Notes: $118 billion

Total for December 2009: $630 billion

Bills: $438 billion
Notes and bonds: $192 billion

Additional purchase by SOMA* for December 2009 so far: $28.606 billion

Bills: $24.72 billion
Notes and bonds: $3.886 billion

*For details, scroll down to the bottom of the page.

Treasury Auction Result for 12/29/2009

2009-12-29T10:05:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

4-week bill: $23 billion (last week $28 billion)

Primary Dealer: $8.31 billion
Indirect Bidder: $12.75 billion
Indirect Bidder Percentage: 55.4% (last week 60.5%)
Bid to Cover Ratio: 3.95 (last week 4.08)
Investment Rate: 0.010% (last week 0.005%)
High Rate: 0.010% (allotted at high: 12.36%)

In addition, SOMA* purchased $6.29 billion 4-week bill.

5-year note (912828ME7): $42 billion (last month $42 billion)

Primary Dealer: $18.00 billion
Indirect Bidder: $18.44 billion
Indirect Bidder Percentage: 43.9% (last month 60.7%)
Bid to Cover Ratio: 2.59 (last month 2.81)
Interest Rate: 2.625% (last month 2.125%)
High Yield: 2.665% (allotted at high: 31.16%) (last month high yield 2.175%)

In addition, SOMA* purchased $1.24 billion 5-year note.

Total for the week so far: $166 billion

Bills: $80 billion
Notes: $86 billion

Total for December 2009 so far: $593 billion

Bills: $433 billion
Notes and bonds: $160 billion

Additional purchase by SOMA* for December 2009 so far: $27.658 billion

Bills: $24.72 billion
Notes and bonds: $2.938 billion

*For details, scroll down to the bottom of the page.

Treasury Auction Result for 12/28/2009

2009-12-28T10:05:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $28 billion (last week $30 billion)

Primary Dealer: $17.95 billion
Indirect Bidder: $2.66 billion
Indirect Bidder Percentage: 9.5% (last week 20.1%)
Bid to Cover Ratio: 3.39 (last week 3.28)
Investment Rate: 0.112% (last week 0.071%)
High Rate: 0.110% (allotted at high: 79.75%)

26-week bill: $29 billion (last week $31 billion)

Primary Dealer: $10.95 billion
Indirect Bidder: $15.50 billion
Indirect Bidder Percentage: 53.4% (last week 68.3%)
Bid to Cover Ratio: 3.57 (last week 3.56)
Investment Rate: 0.203% (last week 0.173%)
High Rate: 0.200% (allotted at high: 40.81%)

2-year note (912828ML1): $44 billion

Primary Dealer: $19.95 billion
Indirect Bidder: $15.18 billion
Indirect Bidder Percentage: 34.5% (last month 44%)
Bid to Cover Ratio: 2.91 (last month 3.16)
Interest Rate: 1% (last month 0.750%)
High Yield: 1.089% (allotted at high: 59.68%) (last month high yield 0.802%)

In addition, SOMA* purchased $1.30 billion 2-year note.

Total for the week so far: $101 billion

Bills: $57 billion
Notes: $44 billion

Total for December 2009 so far: $528 billion

Bills: $410 billion
Notes and bonds: $118 billion

Additional purchase by SOMA* for December 2009 so far: $20.128 billion

Bills: $18.43 billion
Notes and bonds: $1.698 billion

*For details, scroll down to the bottom of the page.

13-Week Bill Auction Trend Since October 2009

2009-12-27T12:41:00.000-08:00

The chart below plots Indirect Bidder (i.e. foreign buyers of Treasuries) Percentage on the left Y axis and Bid to Cover Ratio on the right Y axis for 13-week bill auctions since October 2009.

Note that both Indirect Bidder Percentage and Bid to Cover Ratio seem to have broken the respective support (around 25% for Indirect Bidder Percentage and 3.8 for Bid to Cover Ratio).

Treasury Auction Schedule for the Week of 12/28/2009

2009-12-27T11:06:00.000-08:00

The U.S. Treasury Department will auction the following Treasury securities this week.
Monday December 28, 2009

13-week bill: $28 billion (last week $30 billion)
26-week bill: $29 billion (last week $31 billion)
2-year note (912828ML1): $44 billion (last month $44 billion)

Tuesday December 29, 2009

4-week bill: TBA
5-year note (912828ME7): $42 billion (last month $42 billion)

Wednesday December 30, 2009

7-year note (912828MD9): $32 billion (last month $32 billion)

Total for the week: $175 billion (without 4-week bill)

Bills: $57 billion (without 4-week bill)
Notes: $118 billion

Total for December 2009 so far (as of 12/22): $427 billion

Bills: $353 billion
Notes and bonds: $74 billion

Treasury Auction Result for 12/22/2009

2009-12-22T11:56:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

4-week bill: $28 billion (last week $28 billion)

Primary Dealer: $10.59 billion
Indirect Bidder: $16.93 billion
Indirect Bidder Percentage: 60.5% (last week 18.8%)
Bid to Cover Ratio: 4.08 (last week 4.33)
Investment Rate: 0.005% (last week 0%)
High Rate: 0.005% (allotted at high: 65.60%)

In addition, SOMA* purchased $3.78 billion 4-week bill.

Total for the week: $89 billion

Bills: $89 billion
Notes and bonds: $0 billion

Total for December 2009 so far: $427 billion

Bills: $353 billion
Notes and bonds: $74 billion

Additional purchase by SOMA* for December 2009 so far: $18.828 billion

Bills: $18.43 billion
Notes and bonds: $398 million

*For details, scroll down to the bottom of the page.

Treasury Auction Result for 12/21/2009

2009-12-21T11:45:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $30 billion

Primary Dealer: $19.91 billion
Indirect Bidder: $6.03 billion
Indirect Bidder Percentage: 20.1% (last week 29.2%)
Bid to Cover Ratio: 3.28 (last week 3.69)
Investment Rate: 0.071% (last week 0.041%)
High Rate: 0.070% (allotted at high: 63.01%)

26-week bill: $31 billion

Primary Dealer: $8.34 billion
Indirect Bidder: $21.18 billion
Indirect Bidder Percentage: 68.3% (last week 55.8%)
Bid to Cover Ratio: 3.56 (last week 3.65)
Investment Rate: 0.173% (last week 0.162%)
High Rate: 0.170% (allotted at high: 52.13%)

Total for the week: $61 billion

Bills: $61 billion

Total for December 2009 so far: $399 billion

Bills: $325 billion
Notes and bonds: $74 billion

Additional purchase by SOMA* for December 2009 so far: $15.048 billion

Bills: $14.65 billion
Notes and bonds: $398 million

*For details, scroll down to the bottom of the page.

Treasury Auction Result for 12/15/2009

2009-12-15T11:30:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

4-week bill: $28 billion (last week $29 billion)

Primary Dealer: $21.58 billion
Indirect Bidder: $5.25 billion
Indirect Bidder Percentage: 18.8% (last week 33.9%)
Bid to Cover Ratio: 4.33 (last week 5.33)
Investment Rate: 0% (last week 0%)
High Rate: 0% (allotted at high: 56.12%)

In addition, SOMA* purchased $5.94 billion 4-week bill.

52-week bill: $27 billion (last month $27 billion)

Primary Dealer: $13.79 billion
Indirect Bidder: $10.51 billion
Indirect Bidder Percentage: 38.9% (last month 43.4%)
Bid to Cover Ratio: 3.08 (last month 3.47)
Investment Rate: 0.417% (last month 0.320%)
High Rate: 0.410% (allotted at high: 65.80%) (last month high rate 0.315%)

Total for the week: $116 billion

Bills: $116 billion
Notes and bonds: $0 billion

Total for December 2009 so far: $338 billion

Bills: $264 billion
Notes and bonds: $74 billion

Additional purchase by SOMA* for December 2009 so far: $15.048 billion

Bills: $14.65 billion
Notes and bonds: $398 million

*For details, scroll down to the bottom of the page.

Treasury Auction Schedule for the Week of 12/14/2009

2009-12-14T17:07:00.000-08:00

The U.S. Treasury Department will auction the following Treasury securities this week.

Monday December 14, 2009

13-week bill: $30 billion
26-week bill: $31 billion

Tuesday December 15, 2009

4-week bill: $28 billion
52-week bill: $27 billion

Total for the week: $116 billion

Bills: $116 billion

Total for December 2009 so far (as of 12/14): $283 billion

Bills: $209 billion
Notes and bonds: $74 billion

Treasury Auction Result for 12/14/2009

2009-12-14T08:50:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $30 billion

Primary Dealer: $18.15 billion
Indirect Bidder: $8.75 billion
Indirect Bidder Percentage: 29.2% (last week 39.7%)
Bid to Cover Ratio: 3.69 (last week 4.14)
Investment Rate: 0.041% (last week 0.051%)
High Rate: 0.040% (allotted at high: 66.83%)

26-week bill: $31 billion

Primary Dealer: $10.50 billion
Indirect Bidder: $17.30 billion
Indirect Bidder Percentage: 55.8% (last week 46.3%)
Bid to Cover Ratio: 3.65 (last week 3.59)
Investment Rate: 0.162% (last week 0.167%)
High Rate: 0.160% (allotted at high: 40.77%)

Total for the week: $61 billion

Bills: $61 billion
Notes and bonds: $0 billion

Total for December 2009 so far: $283 billion

Bills: $209 billion
Notes and bonds: $74 billion

Additional purchase by SOMA* for December 2009 so far: $9.108 billion

Bills: $8.71 billion
Notes and bonds: $398 million

*For details, scroll down to the bottom of the page.

Treasury Auction Result for 12/10/2009

2009-12-10T11:00:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

29-year 11-month bond (CUSIP 912810QD3, reopening): $13 billion
(original issue $16 billion in November 2009)

Primary Dealer: $6.87 billion
Indirect Bidder: $5.21 billion
Indirect Bidder Percentage: 40.1% (original issue 43.9%)
Bid to Cover Ratio: 2.45 (original issue 2.26)
Interest Rate: 4.375%
High Yield: 4.520% (allotted at high: 40.62%) (original issue high yield 4.469%)

In addition, SOMA* purchased $70 million 29-year 11-month bond.

Total for the week: $191 billion

Bills: $117 billion
Notes and bonds: $74 billion

Total for December 2009 so far: $222 billion

Bills: $148 billion
Notes and bonds: $74 billion

Additional purchase by SOMA* for December 2009 so far: $9.108 billion

Bills: $8.71 billion
Notes and bonds: $398 million

*For details, scroll down to the bottom of the page.

Treasury Auction Result for 12/9/2009

2009-12-09T10:37:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

19-day CMB*: $15 billion (SFP*, maturing on December 29, 2009)

Primary Dealer: $10.71 billion
Indirect Bidder: $2.10 billion
Indirect Bidder Percentage: 14%
Bid to Cover Ratio: 5.38
Investment Rate: 0.081% (cf. 4-day CMB auctioned yesterday had 0.071%.)
High Rate: 0.080% (allotted at high: 4.71%)

9-year 11-month note (CUSIP 912828LY4, reopening): $21 billion
(original issue $25 billion in November 2009)

Primary Dealer: $11.77 billion
Indirect Bidder: $7.31 billion
Indirect Bidder Percentage: 34.8% (original issue 46.9%)
Bid to Cover Ratio: 2.62 (original issue 2.81)
Interest Rate: 3.375%
High Yield: 3.448% (allotted at high: 67.28%) (original issue high yield 3.470%)

In addition, SOMA* purchased $113 million 9-year 11-month note.

Total for the week: $178 billion

Bills: $117 billion
Notes: $61 billion

Total for December 2009 so far: $209 billion

Bills: $148 billion
Notes: $61 billion

Additional purchase by SOMA* for December 2009 so far: $9.038 billion

Bills: $8.71 billion
Notes: $328 million

*For details, scroll down to the bottom of the page.

Treasury Auction Result for 12/8/2009

2009-12-08T10:10:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

4-day CMB*: $12 billion (maturing on December 14, 2009)

Primary Dealer: $10.99 billion
Indirect Bidder: $0.85 billion
Indirect Bidder Percentage: 7.1%
Bid to Cover Ratio: 5.87
Investment Rate: 0.071% (higher than 4-week bill's rate, and higher than 13-week bill auctioned yesterday)
High Rate: 0.070% (allotted at high: 63.81%)

4-week bill: $29 billion

Primary Dealer: $17.97 billion
Indirect Bidder: $9.84 billion
Indirect Bidder Percentage: 33.9% (last week 38.1%)
Bid to Cover Ratio: 5.33 (last week 4.07)
Investment Rate: 0% (last week 0.086%)
High Rate: 0% (allotted at high: 35.09%)

In addition, SOMA* purchased $2.42 billion 4-week bill.

3-year note (CUSIP 912828MB3): $40 billion (same as last month)

Primary Dealer: $14.41 billion
Indirect Bidder: $24.25 billion
Indirect Bidder Percentage: 60.6% (last month 68.1%)
Bid to Cover Ratio: 2.98 (last month 3.33)
Interest Rate: 1.125% (last month 1.375%)
High Yield: 1.223% (allotted at high: 50.40%)

In addition, SOMA* purchased $215 million 3-year note.

Total for the week: $142 billion

Bills: $102 billion
Notes: $40 billion

Total for December 2009 so far: $173 billion

Bills: $133 billion
Notes: $40 billion

Additional purchase by SOMA* for December 2009 so far: $8.925 billion

Bills: $8.71 billion
Notes: $215 million

Treasury Auction December 2009

2009-12-07T10:53:00.000-08:00

Treasury Auction Result for 12/7/2009

2009-12-07T10:39:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $30 billion

Primary Dealer: $13.96 billion
Indirect Bidder: $11.90 billion
Indirect Bidder Percentage: 39.7% (last week 45.4%)
Bid to Cover Ratio: 4.14 (last week 3.89)
Investment Rate: 0.051% (last week 0.061%)
High Rate: 0.050% (allotted at high: 7.36%)

26-week bill: $31 billion

Primary Dealer: $12.68 billion
Indirect Bidder: $14.36 billion
Indirect Bidder Percentage: 46.3% (last week 48.1%)
Bid to Cover Ratio: 3.59 (last week 3.55)
Investment Rate: 0.167% (last week 0.152%)
High Rate: 0.165% (allotted at high: 2.32%)

Total for the week: $61 billion

Bills: $61 billion

Total for December 2009 so far: $92 billion

Bills: $92 billion

Additional purchase by SOMA* for December 2009 so far: $6.29 billion

Bills: $6.29 billion

Treasury Auction Schedule for the Week of 12/7/2009

2009-12-07T09:21:00.002-08:00

The U.S. Treasury Department will auction the following Treasury securities this week.

Monday December 7, 2009

13-week bill: $30 billion
26-week bill: $31 billion

Tuesday December 8, 2009

4-day bill (CMB*): $12 billion
4-week bill: $29 billion
3-year note (CUSIP: 912828MB3): $40 billion

Wednesday December 9, 2009

19-day bill (CMB*): $15 billion (for SFP* for the use by the Federal Reserve)
9-year 11-month note (912828LY4, reopening; original issue November 2009): $21 billion

Thursday December 10, 2009

29-year 11-month bond (912810QD3, reopening; original issue November 2009): $13 billion

Total for the week: $191 billion

Bills: $117 billion
Notes and bonds: $74 billion

* For explanation, scroll down to the bottom of the page.

Treasury Auction Result for 12/1/2009

2009-12-01T11:55:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

4-week bill: $31 billion (last week $32 billion)

Primary Dealer: $16.47 billion
Indirect Bidder: $11.82 billion
Indirect Bidder Percentage: 38.1% (last week 43.6%)
Bid to Cover Ratio: 4.07 (last week 4.38)
Investment Rate: 0.086% (last week 0.061%)
High Rate: 0.085% (allotted at high: 62.10%)

In addition, SOMA* purchased $6.29 billion 4-week bill.

Total for December 2009 so far: $31 billion

Bills: $31 billion
Notes and bonds: $0billion

Additional purchase by SOMA* for December 2009 so far: $6.29 billion

Bills: $6.29 billion
Notes and bonds: $0 billion

Treasury Auction Result for 11/30/2009

2009-11-30T11:41:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $30 billion

Primary Dealer: $14.38 billion
Indirect Bidder: $13.62 billion
Indirect Bidder Percentage: 45.4% (last week 24.1%)
Bid to Cover Ratio: 3.89 (last week 3.81)
Investment Rate: 0.061% (last week 0.041%)
High Rate: 0.060% (allotted at high: 62.10%)

26-week bill: $31 billion

Primary Dealer: $14.29 billion
Indirect Bidder: $14.92 billion
Indirect Bidder Percentage: 48.1% (last week 43%)
Bid to Cover Ratio: 3.55 (last week 3.60)
Investment Rate: 0.152% (last week 0.142%))
High Rate: 0.150% (allotted at high: 70.55%)

Total for the week: $61 billion

Bills: $61 billion

Total for November 2009: $651 billion

Bills: $452 billion
Notes and bonds: $199 billion

Additional purchase by SOMA* for November 2009: $32.04 billion

Bills: $18.43 billion
Notes and bonds: $13.61 billion

Treasury Auction Result for 11/25/2009

2009-11-25T09:50:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

7-year note (CUSIP 912828MA5): $32 billion (last month $31 billion)

Primary Dealer: $8.92 billion
Indirect Bidder: $19.98 billion
Indirect Bidder Percentage: 62.4% (last month 59.3%)
Bid to Cover Ratio: 2.76 (last month 2.65)
Interest Rate: 2.750% (last month 3.125%)
High Yield: 2.835% (allotted at high: 87.98%) (last month high yield 3.141%)

In addition, SOMA* purchased $0.96 billion 7-year note.

Total for the week: $211 billion

Bills: $93 billion
Notes and bonds: $118 billion

Total for November 2009 so far: $590 billion

Bills: $391 billion
Notes and bonds: $199 billion

Additional purchase by SOMA* for November 2009 so far: $32.04 billion

Bills: $18.43 billion
Notes and bonds: $13.61 billion

Treasury Auction Result for 11/24/2009

2009-11-24T09:52:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

4-week bill: $32 billion (same as last week)

Primary Dealer: $15.84 billion
Indirect Bidder: $13.94 billion
Indirect Bidder Percentage: 43.6% (last week 32.3%)
Bid to Cover Ratio: 4.38 (last week 3.79)
Investment Rate: 0.061% (last week 0.051%)
High Rate: 0.060% (allotted at high: 25.03%)

In addition, SOMA* purchased $3.78 billion 4-week bill.

5-year note (CUSIP 912828LZ1): $42 billion (last month $41 billion)

Primary Dealer: $15.15 billion
Indirect Bidder: $25.49 billion
Indirect Bidder Percentage: 60.7% (last month 54.6%)
Bid to Cover Ratio: 2.81 (last month 2.63)
Interest Rate: 2.125% (last month 2.375%)
High Yield: 2.175% (allotted at high: 67.34%) (last month high yield 2.388%)

In addition, SOMA* purchased $1.26 billion 5-year note.

Total for the week so far: $179 billion

Bills: $93 billion
Notes and bonds: $86 billion

Total for November 2009 so far: $558 billion

Bills: $391 billion
Notes and bonds: $167 billion

Additional purchase by SOMA* for November 2009 so far: $31.08 billion

Bills: $18.43 billion
Notes and bonds: $12.65 billion

Treasury Auction Result for 11/23/2009

2009-11-23T10:20:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $30 billion (same as last week)

Primary Dealer: $19.85 billion
Indirect Bidder: $7.24 billion
Indirect Bidder Percentage: 24.1% (last week 25.2%)
Bid to Cover Ratio: 3.81 (last week 3.94)
Investment Rate: 0.041% (last week 0.066%)
High Rate: 0.040% (allotted at high: 47.63%)

26-week bill: $31 billion (same as last week)

Primary Dealer: $14.36 billion
Indirect Bidder: $13.32 billion
Indirect Bidder Percentage: 43% (last week 39.1%)
Bid to Cover Ratio: 3.60 (last week 3.65)
Investment Rate: 0.142% (last week 0.167%)
High Rate: 0.140% (allotted at high: 70.32%) (last month high rate 0.165%)

2-year note (CUSIP 912828MM9): $44 billion (same as last month)

Primary Dealer: $22.08 billion
Indirect Bidder: $19.36 billion
Indirect Bidder Percentage: 44% (last month 43.9%)
Bid to Cover Ratio: 3.16 (last month 3.63)
Interest Rate: 0.750% (last month 1%)
High Yield: 0.802% (allotted at high: 95.78%) (last month high yield 1.020%)

In addition, SOMA* purchased $1.32 billion 2-year note.

Total for the week so far: $105 billion

Bills: $61 billion
Notes and bonds: $44 billion

Total for November 2009 so far: $484 billion

Bills: $359 billion
Notes and bonds: $125 billion

Additional purchase by SOMA* for November 2009 so far: $26.04 billion

Bills: $14.65 billion
Notes and bonds: $11.39 billion

New York Fed Open Market Operation for 11/23/2009

2009-11-23T08:15:00.000-08:00

As part of the permanent Open Market Operation (OMO), the New York Fed purchased agency bonds today.

Operation type: Outright Agency Coupon Purchase
Total Par Amt Accepted: $2,017 million
Total Par Amt Submitted: $5,763 million
Maturity Date Range: 11/23/11 - 11/15/13

Of the purchase,

$523 million Freddie Mac (FHLMC) bonds
$776 million Fannie Mae (FNMA) bonds
$718 million Federal Home Loan Bank (FHLB) bonds

Treasury Auction Schedule for the Week of 11/23/2009

2009-11-23T08:05:00.000-08:00

The U.S. Treasury Department will auction another boatload of Treasury securities this week.

Monday November 23, 2009

13-week bill: $30 billion
26-week bill: $31 billion
2-year note (CUSIP: 912828MM9): $44 billion (same as last month)

Tuesday November 24, 2009

4-week bill: TBA (last week $32 billion)
5-year note (912828LZ1): $42 billion (last month $41 billion)

Wednesday November 25, 2009

7-year note (912828MA5): $32 billion (last month $31 billion)

Total for the week without 4-week bill: $179 billion

Bills (without 4-week): $61 billion
Notes: $118 billion

Treasury Auction Result for 11/17/2009

2009-11-17T10:03:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

4-week bill: $32 billion (last week $30 billion)

Primary Dealer: $20.58 billion
Indirect Bidder: $10.34 billion
Indirect Bidder Percentage: 32.3% (last week 35.1%)
Bid to Cover Ratio: 3.79 (last week 4.33)
Investment Rate: 0.051% (last week 0.061%)
High Rate: 0.050% (allotted at high: 47.62%) (last week 0.060% )

In addition, SOMA* purchased $5.94 billion 4-week bill.

52-week bill: $27 billion (last month $27 billion)

Primary Dealer: $13.75 billion
Indirect Bidder: $11.73 billion
Indirect Bidder Percentage: 43.4% (last month 52.3%)
Bid to Cover Ratio: 3.47 (last month 4.11)
Investment Rate: 0.320% (last month 0.381%)
High Rate: 0.315% (allotted at high: 88.81%) (last month high rate 0.375%)

Total for the week so far: $120 billion

Bills: $120 billion
Notes and bonds: $0 billion

Total for November 2009 so far: $379 billion

Bills: $298 billion
Notes and bonds: $81 billion

Additional purchase by SOMA* for November 2009 so far: $24.72 billion

Bills: $14.65 billion
Notes and bonds: $10.07 billion

Treasury Auction Result for 11/16/2009

2009-11-16T09:05:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $30 billion (last week $30 billion)

Primary Dealer: $18.57 billion
Indirect Bidder: $7.57 billion
Indirect Bidder Percentage: 25.2% (last week 35.2%)
Bid to Cover Ratio: 3.94 (last week 3.82)
Investment Rate: 0.066% (last week 0.066%)
High Rate: 0.065% (allotted at high: 41.81%) (last week 4.541% )

26-week bill: $31 billion (last week $31 billion)

Primary Dealer: $17.03 billion
Indirect Bidder: $12.11 billion
Indirect Bidder Percentage: 39.1% (43.3%)
Bid to Cover Ratio: 3.65 (last week 3.62)
Investment Rate: 0.167% (last week 0.167%)
High Rate: 0.165% (allotted at high: 62.34%)

Total for the week so far: $61 billion

Bills: $61 billion
Notes and bonds: $0 billion

Total for November 2009 so far: $320 billion

Bills: $239 billion
Notes and bonds: $81 billion

Additional purchase by SOMA* for November 2009 so far: $18.78 billion

Bills: $8.71 billion
Notes and bonds: $10.07 billion

Treasury Auction Result for 11/12/2009

2009-11-12T09:40:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

30-year bond (912810QD3): $16 billion (last original issue (August 09) $15 billion)

Primary Dealer: $7.01 billion
Indirect Bidder: $7.03 billion
Indirect Bidder Percentage: 43.9% (August issue 48%)
Bid to Cover Ratio: 2.26 (August issue 2.54)
Interest Rate: 4.375% (August issue 4.500%)
High Yield: 4.469% (allotted at high: 18.01%) (August issue high yield: 4.541% )

In addition, SOMA* purchased $1.99 billion 30-year bond.

Total for the week: $172 billion

Bills: $91 billion
Notes and bonds: $81 billion

Total for November 2009 so far: $259 billion

Bills: $178 billion
Notes and bonds: $81 billion

Additional purchase by SOMA* for November 2009 so far: $18.78 billion

Bills: $8.71 billion
Notes and bonds: $10.07 billion

Bond Market Closed for Veterans Day

2009-11-11T09:30:00.000-08:00

Today (November 11, 2009) the bond market is closed in observance of Veterans Day. The Federal Reserve Bank is also closed.

The auction for 30-year bond (CUSIP 912810QD3, $16 billion new issue) will be held tomorrow.

Treasury Auction Result for 11/10/2009

2009-11-10T10:05:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

4-week bill: $30 billion (last week $28 billion)

Primary Dealer: $16.46 billion
Indirect Bidder: $10.54 billion
Indirect Bidder Percentage: 35.1% (last week 42.7%)
Bid to Cover Ratio: 4.33 (last week 4.35)
Investment Rate: 0.061% (last week 0.035%)
High Rate: 0.060% (allotted at high: 43.45%)

In addition, SOMA* purchased $2.42 billion 4-week bill.

10-year note (912828LY4): $25 billion (last original issue (August 09) $23 billion)

Primary Dealer: $11.94 billion
Indirect Bidder: $11.73 billion
Indirect Bidder Percentage: 46.9% (August issue 45.3%)
Bid to Cover Ratio: 2.81 (August issue 2.49)
Interest Rate: 3.375% (August issue 3.625%)
High Yield: 3.470% (allotted at high: 82.49%) (August issue high yield: 3.734% )

In addition, SOMA* purchased $3.11 billion 10-year note.

Total for the week so far: $156 billion

Bills: $91 billion
Notes: $65 billion

Total for November 2009 so far: $243 billion

Bills: $178 billion
Notes: $65 billion

Additional purchase by SOMA* for November 2009 so far: $16.79 billion

Bills: $8.71 billion
Notes: $8.08 billion

Treasury Auction Result for 11/9/2009

2009-11-09T09:58:00.000-08:00

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $30 billion

Primary Dealer: $15.89 billion
Indirect Bidder: 10.57 billion
Indirect Bidder Percentage: 35.2% (last week 42.7%)
Bid to Cover Ratio: 3.82 (last week 4.18)
Investment Rate: 0.066% (last week 0.061%)
High Rate: 0.065% (allotted at high: 94.45%)

26-week bill: $31 billion

Primary Dealer: $13.87 billion
Indirect Bidder: $13.43 billion
Indirect Bidder Percentage: 43.3% (last week 48.3%)
Bid to Cover Ratio: 3.62 (last week 3.73)
Investment Rate: 0.167% (last week 0.173%)
High Rate: 0.165% (allotted at high: 70.43%)

3-year note (912828LX6): $40 billion (last month $39 billion)

Primary Dealer: $9.50 billion
Indirect Bidder: $27.23 billion
Indirect Bidder Percentage: 68.1% (last month 48.8%)
Bid to Cover Ratio: 3.33 (2.76)
Interest Rate: 1.375% (last month 1.375%)
High Yield: 1.404% (allotted at high: 38.42%) (last month high yield: 1.445%)

In addition, SOMA* purchased $4.97 billion 3-year note.

Total for the week so far: $101 billion

Bills: $61 billion
Notes: $40 billion

Total for November 2009 so far: $188 billion

Bills: $148 billion
Notes: $40 billion

Additional purchase by SOMA* for November 2009 so far: $11.26 billion

Bills: $6.29 billion
Notes: $4.97 billion