20年期国债拍卖顺利完成，海外需求高于平均水平。

20年期国债拍卖顺利完成，海外需求高于平均水平。
Solid 20Y Auction Stops Through With Above Average Foreign Demand

原始链接: https://www.zerohedge.com/markets/solid-20y-auction-stops-through-above-average-foreign-demand

本周唯一的债券拍卖于下午1点进行，财政部出售了130亿美元的20年期债券，拍卖结果良好但并非卓越。拍卖的最高收益率达到4.883%，高于三月份的4.817%，为去年七月以来最高水平。拍卖价格也低于发行价（When Issued）4.892% 0.9个基点，为今年一月以来最高水平。投标覆盖率为2.68，低于三月份的2.76，但高于过去六次拍卖的平均值2.63。内部需求也表现良好，间接投标者（Indirects）占拍卖总额的67.4%，略低于上个月的69.2%，但高于外国买家的近期平均值62.9%。直接投标者（Directs）占22.9%，略高于上个月的21.6%，交易商（Dealers）持有的比例仅为9.7%，低于近期平均值11.2%。总体而言，本次拍卖结果良好，这在10年期收益率接近本周高点4.30%的情况下是一个受欢迎的结果。

The week's lone coupon auction priced at 1pm when the Treasury sold $13 BN in 20Y paper, in a solid if not stellar auction.

The auction stopped at a high yield of 4.883%, up from 4.817% in March and the highest since last July. It also stopped through the 4.892% When Issued by 0.9bps, the highest since January.

The bid to cover was 2.68, down from 2.76 in March but above the 2.63 six-auction average.

The internals were also solid with Indirects taking 67.4% of the auction, down modestly from 69.2% last month but also above the 62.9% recent average for foreign buyers. And with Directs taking 22.9%, up modestly from 21.6% last month, Dealers were left holding just 9.7%, down from the recent average of 11.2%.

Overall, this was another solid auction, which is a welcome outcome at a time when 10Y yields are trading near weekly highs just around 4.30%.

20年期国债拍卖顺利完成，海外需求高于平均水平。 Solid 20Y Auction Stops Through With Above Average Foreign Demand

20年期国债拍卖顺利完成，海外需求高于平均水平。
Solid 20Y Auction Stops Through With Above Average Foreign Demand