MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: JAPAN JUNE SERVICES PPI +3.0% Y/Y; MAY REV +2.7%

MNI BRIEF: Japan June Services PPI Rises 3.0% Vs. May's 2.7%

US Treasury Auction Calendar

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

10Y Auction: Another Tail With Soft Internals

US TSYS/SUPPLY
  • The 10Y auction continued it recent poor run, tailing for four auctions running, this time with 1.5bps (high yield 3.791% vs Bloomberg WI 3.776%). It follows a 1.1bp tail in May and a prior five-auction average tail of 0.6bps.
  • Primary dealers see a sizable pick-up at 17.80% (May 13.04%, 5-auction av 13.67%), with the share taken out of indirects at 62.28% (May 67.5%, 5-auction av 67.84%) for its lowest since December.
  • Bid-cover also on the low side, at 2.36 vs May 2.45 and 5-auction av 2.47, lowest since March.
  • 10YY have lifted ~1bp since shortly before the auction for +4.3bps on the day amidst the bear steepening with 2s10s pushing +3.7bps higher on the day at -81bps.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.