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$27B Tsy Auction Tails 1Bp

US TSYS/SUPPLY

Tsys futures trade lower after weak $27B 20Y auction: drawing a high yield of 2.286% (2.144% last month) vs. 2.275% WI.

  • Indirect take-up was 56.74% vs. April of 58.73% the highest since October (with Nov-Feb all between 54.89%-61.22%).
  • Primary dealer take-up of 19.51% the lowest in over a year (5 month average of 25.18%). Direct take-up surges to 23.75 - also the highest in over a year.

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