With many eyes on it, uneventful 30 yr auction

With the global uplift in 30 yr maturity yields, the US 30 yr bond auction was uneventful. The yield of 4.889% was spot on with the when issued pricing. The bid to cover of 2.38 was a touch below the 12 month average of 2.41. Direct and indirect bidders (I combine them because a foreign buyer can use a US bank to bid and that would show up as a direct bid even though it’s coming from overseas) made up about 87% of the auction vs the previous 12 month average of 86%.