U.S. Treasury sells $44 billion of 7 year note that a high yield of 4.512%

The U.S. Treasury sold $44 billion of 7 year note set a high yield of WI level at the time of the auction 4.512%. Tail 0.0 bps vs average of 0.2 basis points. Bid to cover 2.50X versus 6 month average of 2.49X Directs 27.0% vs average of 23.1%. Indirects 60.8% vs. average of 65.1% Dealers 12.3 vs average of 11.8% Auction Grade: C No tail. Bid to cover near the average. The domestic buyers were…