U.S. Treasury auctions off $70 billion of five-year notes at a high yield of 4.553%
High yield 4.553%WI level at option time 4.540%Tail: +1.3 basis points versus six averages. -0.1 pressure pointBid to cover: 2.3X versus a six-month average of 2.41XTraders: 19.52% vs. six-month average of 16.0%Direct: 15.44% vs. six-month…