April 28, 2022 17:05 GMT
7Y Auction Review: Tail, Tsy Dip Lower
US TSYS/SUPPLY
Long-end Tsys inch lower, still off session lows after $44B 7Y note auction (91282CEM9) tailed: 2.908% high yield vs. 2.890% WI; 2.41x bid-to-cover vs. 2.44x last month.
- Indirect take-up: climbs to 64.95% vs. 60.9% in March
- Primary dealer take-up: 15.22% vs. 10.52%;
- Direct take-up: falls to 19.82% vs. 28.58%
- The next 7Y auction is tentatively scheduled for May 26.
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