US 5Y Note Auction
The US Treasury's $70B 5-year note auction draws 4.200% yield, with indirect bidders taking 61.6% of competitive bids
86.81% allotted at the high - Indirect bidders take 61.6% of competitive bids, Direct bidders take 25.5%, Dealers take 13.9% **NOTE: When-issued yield ahead of the auction was 4.193% (auction tailed by 0.7bps)