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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.
MNI UST Issuance Deep Dive: Jul 2023
MNI UST Issuance Deep Dive: Jul 2023
EXECUTIVE SUMMARY:
- July's coupon Treasury issuance is set to be unchanged from June's schedule, with a total of $222B on offer over the course of the month.
- There is a reasonable chance that Treasury increases coupon sizes in the upcoming quarter, starting with the August refunding. This would mark the first time Treasury has upped sizes since February 2021.
- June’s coupon auctions were more mixed compared with May’s strong performances. Of the 7 June sales, 4 traded through, with 3 tailing. However the tails were relatively modest, and only the 20Y sale really stood out (and was the strongest of the month per MNI's Relative Strength Indiactor).
Please see PDF for full analysis:
MNI_US_DeepDive_Issuance_2023_07.pdf
Source: Treasury, MNI Projection
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.
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