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J.P.Morgan Weigh In On End-Of-Month Supply Matters

US TSYS

J.P.Morgan note that Thursday will see “Treasury announce end-of-month supply for auction next week. We expect Treasury to announce $42bn 2-Year notes, $43bn 5-Year notes, and $35bn 7-Year notes, each $1bn smaller in size than last month, and we also project $24bn new-issue 2-Year FRNs, unchanged since last new-issue auction in July. We think the 2-, 5-, and 7-Year rolls should open at +2.125bp, +0.25bp, and -0.875bp, respectively.”

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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