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Free AccessJefferies economist Tom Simons........>
US TSYS/BILLS: Jefferies economist Tom Simons noted today's 3-month bill auction
"stopped 1 basis point short at 1.105%. This is the highest yielding 3-month
bill auction stop since July 24th, when investors were avoiding October
maturities for fear of debt ceiling complications."
- He added the WI 3-month "was selling off heading into the auction, but it
found plenty of demand at 11:30AM. Overall this was a very solid auction,
similar to last week." He added that "the 3.20 bid cover is the highest since
Aug. 14th" while "indirect bidders took down 47.7%, which is their largest
takedown since Aug. 14th. Directs took down 10.2%, which is at the upper end of
the recent range. Dealers took down a 42.1% which is their smallest takedown
since Aug. 14th."
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.