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Another Tail For 7Y, Tsy Sell Off

US TSYS/SUPPLY

Tsys futures sell-off after US Tsy $62B 7Y Note auction (91282CBS9) draws high yield 1.300% (huge 4bp tail last month: high yield of 1.195% vs. 1.155% WI) vs. 1.277% WI; 2.23 bid/cover vs. 2.30 prior.

  • Indirects drew 57.27% vs. 38.06% prior, directs 18.00% vs. 22.13%, dealers 27.73% vs. 39.81%.

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