US Treasury Auctions $24B of 3-Year Notes at 1.525%

The Treasury Department auctioned $24 billion in 3-year notes at a high yield of 1.525 percent. The bid-to-cover ratio, an indicator of demand, was 2.62.

Indirect bidders, which include major central banks, were awarded 51.8 percent. Direct bidders, which includes domestic money managers, bought 8.3 percent.

U.S. government debt prices were mostly higher on Monday as comments over the weekend from U.S. Secretary of State Rex Tillerson appeared to retreat from expectations of a campaign to remove Syrian president Bashar Assad.

The U.S. launched a missile strike against a Syrian airfield late Thursday in response to an alleged chemical attack which killed several Syrian civilians.

Investors will be keenly watching events in Italy on Monday, where G7 foreign ministers will begin a two-day meeting and it is hoped that Tillerson may provide more clarity on Syria and an array of international issues.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza