November 09, 2022 17:04 GMT
Preview 10Y Note Auction
US TSYS/SUPPLY
Tsy futures trading firmer/near highs ahead the $35B 10Y note auction (91282CFV8) at the top of the hour. WI is currently running around 4.100%, 17bp cheap to last month's tail.
- October auction recap: Tsy futures pared gains after $32B 10Y note auction re-open (91282CFF3) tailed yet again w/ 3.930% high yield vs. 3.915% WI; 2.34x bid-to-cover vs. 2.37x prior.
- Indirect take-up 56.79% vs. 62.30% prior; direct bidder take-up 23.51 from 17.89%, primary dealer take-up 19.70% vs. 19.81%.
- Timing: The 10Y note re-open results will available shortly after the competitive auctions closes at 1300ET.
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