Free Trial

10 Yr Auction Stops Through, Stems Weakness For Now

US TSYS

1.3bps stop-through at the auction (1.684% high yield vs 1.697% when-issued) and best bid to cover (2.45x) since Jan 2021 auction helps stem the bleeding in 10s...for now. Checking levels:

  • * 3M10Y +5.625, 166.277 (L: 158.988 / H: 167.89)
  • * 1Y10Y +5.118, 162.727 (L: 155.361 / H: 164.34)
  • * 2Y10Y +4.769, 150.861 (L: 144.854 / H: 152.294)
  • * 2Y30Y +3.88, 222.384 (L: 216.477 / H: 223.493)
  • * 5Y30Y -0.2, 154.164 (L: 149.954 / H: 154.98)

Current futures levels:

  • * Jun 2-Yr futures (TU) down 0.375/32 at 110-12.125 (L: 110-11.5 / H: 110-12.875)
  • * Jun 5-Yr futures (FV) down 7.25/32 at 124-1 (L: 123-29 / H: 124-09.5)
  • * Jun 10-Yr futures (TY) down 13/32 at 132-1.5 (L: 131-29 / H: 132-18)
  • * Jun 30-Yr futures (US) down 30/32 at 156-0 (L: 155-22 / H: 157-09)
  • * Jun Ultra futures (WN) down 47/32 at 182-26 (L: 182-12 / H: 185-03)

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.