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US TSYS/SUPPLY: Preview 10Y Note Auction

US TSYS/SUPPLY

Tsy futures are trading near late morning lows ahead of the $39B 10Y note auction re-open (91282CLW9) at 1300ET, WI is currently at 4.682%, 44.7bp cheap to last month's stop. Today's results will be available shortly after the competitive auctions closes at 1300ET.

  • December auction recap: Treasury futures pared support slightly after the strong $39B 10Y note auction re-open (91282CLW9) stopped 1.7bp through with 4.235% high yield vs. 4.252% WI; 2.70x bid-to-cover (highest since Jun 2019) vs. 2.58x prior.
  • Peripheral stats saw indirect take-up climb to 70.0% vs. 61.7% prior; direct bidder take-up receded to 19.5% from 23.6% prior; primary dealer take-up receded to 10.50% from 14.7% prior.
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Tsy futures are trading near late morning lows ahead of the $39B 10Y note auction re-open (91282CLW9) at 1300ET, WI is currently at 4.682%, 44.7bp cheap to last month's stop. Today's results will be available shortly after the competitive auctions closes at 1300ET.

  • December auction recap: Treasury futures pared support slightly after the strong $39B 10Y note auction re-open (91282CLW9) stopped 1.7bp through with 4.235% high yield vs. 4.252% WI; 2.70x bid-to-cover (highest since Jun 2019) vs. 2.58x prior.
  • Peripheral stats saw indirect take-up climb to 70.0% vs. 61.7% prior; direct bidder take-up receded to 19.5% from 23.6% prior; primary dealer take-up receded to 10.50% from 14.7% prior.