20090610 US 10-Year Note Auction Result

http://www.treasurydirect.gov/instit/annceresult/press/preanre/2009/R_20090610_1.pdf

Explanation:

Interest Rate: 3.125%
Effective Yield: 3.99%

Total Offered: 19.20 billion
Total Bid: 50.06 billion

Primary Dealer (18 major banks) bid: 35.90 billion
Indirect (foreign central banks) bid: 7.496 billion
SOMA (federal reserve) bid: 0.201 billion

Primary Dealer receives: 10.64 billion
Foreign Central Banks receives: 6.448 billion
Federal Reserve receives: 0.201 billion


Demand for 10 year notes is ok, but yield is much higher.