April 27, 2022 16:02 GMT
$49B 5Y-Note auction (91282CEN7) at the top of the hour, WI currently running around 2.787%, 24.4bp cheaper to last month's stop.
- March auction review:
- Tsy futures gained after $51B 5Y note auction (91282CEF4) stopped through: 2.543% high yield vs. 2.553% WI; 2.53x bid-to-cover vs. 2.46x 5 month avg.
- Indirect take-up: slipped to 60.2% vs. 67.8% in Feb; Primary dealer take-up: climbed to 20.1% vs. 13.8%; Direct take-up 19.7% vs. 18.4%.
- Timing: The 5Y note results will available shortly after the competitive auctions closes at 1300ET.