美国5年期国债中标收益率3.747% 略高于发行前交易水平

Core Viewpoint - The U.S. Treasury issued $70 billion in 5-year bonds with a winning yield of 3.747%, slightly higher than pre-auction trading levels by about 0.1 basis points, indicating strong demand despite a lower allocation to primary dealers [1][2]. Group 1: Auction Results - The auction showed good demand, with a bid-to-cover ratio of 2.35, close to the previous six auctions' average of 2.36 [2]. - Primary dealers received 8.8% of the allocation, lower than the average of 10.7% from the last six auctions [1][2]. - Direct bidders received a high allocation of 31.7%, above the average of 27.5% [1][2]. - Indirect bidders accounted for 59.5% of the allocation, slightly below the average of 61.9% [1][2]. Group 2: Yield Movement - The benchmark 5-year Treasury yield rose by approximately 2.5 basis points on the day, moving away from the intraday high [1][2].