EFTA Document EFTA01385932

27 March 2015 US Fixed Income Weekly 5-year note Combined customer participation dipped below-average to a six-month low of 60.4% from 67.6% in February. Indirect bidder participation declined to 55.7% from 60.1% in February, though still above its prior-year average 53.7%. The trend of low direct bidder takedown continued in March as the participation fell to 4.7%, the lowest in the auctions since June 2013. The auction generated a soft bid-to-cover ratio of 2.35 in comparison to its pr