Reply #86: 10-yr Treasury Auction Results:

[UpInArms]

1:08pm 02/08/06 <$TNX> 10-YR TREASURY AUCTION HAS 41% INDIRECT BID

1:07pm 02/08/06 <$TNX> 10-YR TREASURY AUCTION PRODUCES HIGH YIELD OF 4.540%

1:05pm 02/08/06 <$TNX> 10-YR TREASURY AUCTION HAS BID-TO-COVER RATIO OF 2.32

1:06pm 02/08/06 10-YR TREASURY AUCTION HAS MEDIAN YIELD OF 4.510%

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-02-08T181309Z_01_NYG000127_RTRIDST_0_MARKETS-BONDS-AUCTION-URGENT.XML

NEW YORK, Feb 8 (Reuters) - U.S. Treasury debt prices trimmed losses on Wednesday after an auction of $13 billion in new 10-year notes drew demand that more or less matched last year's average.

The notes were sold at a high yield of 4.540 percent and drew bids for 2.32 times the amount on offer, just above the 2.30 average in 2005's four 10-year auctions, excluding reopenings.

Indirect bidders, which include customers of primary dealers and foreign central banks, snagged $5.25 billion, or 40.4 percent of the deal, just below the 40.6 percent average in last year's four 10-year auctions, excluding reopenings.

Existing 10-year notes, which were 3/32 lower ahead of the auction's completion, were steady for a yield of 4.573 percent.