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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.
MNI UST Issuance Deep Dive - July 2021
Coupon and FRN auction sizes should continue at current record levels through July: $60B 2Y, $58B 3Y, $61B 5Y, $62B 7Y, $38B 10Y, $24B in 20- and 30Y Bonds. The next quarterly refunding announcement will take place on Wednesday, August 4, 2021.
- Sell-side analysts continue to anticipate a gradual reduction in auction sizes in the latter half of the year. There are expectations that the debt ceiling reinstatement debate will heat up ahead the July 31 suspension expiration.
- June auction review: Strong 10- and 20Y auction re-opens outperformed mostly average auctions across the balance of the curve. Short durations (2s, 5s) underperformed in the bull-flattening that kicked off after the June 16 FOMC.
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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