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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 $42B 10Y note auction (91282CMM0) at 1300ET, WI is currently at 4.626%, 5.4bp rich to last month's tail. Today's results will be available shortly after the competitive auctions closes at 1300ET.

  • January auction recap: Treasury futures held weaker but off late morning lows after the $39B 10Y note auction re-open (91282CLW9) drew 4.680% high yield vs. 4.678% WI; 2.53x bid-to-cover vs. 2.70x prior (highest since Jun 2019).
  • Peripheral stats indirect take-up recedes to 61.39% vs. 7.000% prior; direct bidder take-up rebounds to 22.97% from 19.50% prior; primary dealer take-up 15.64% vs. 14.70% prior.
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Tsy futures are trading near late morning lows ahead of the $42B 10Y note auction (91282CMM0) at 1300ET, WI is currently at 4.626%, 5.4bp rich to last month's tail. Today's results will be available shortly after the competitive auctions closes at 1300ET.

  • January auction recap: Treasury futures held weaker but off late morning lows after the $39B 10Y note auction re-open (91282CLW9) drew 4.680% high yield vs. 4.678% WI; 2.53x bid-to-cover vs. 2.70x prior (highest since Jun 2019).
  • Peripheral stats indirect take-up recedes to 61.39% vs. 7.000% prior; direct bidder take-up rebounds to 22.97% from 19.50% prior; primary dealer take-up 15.64% vs. 14.70% prior.