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Preview 10Y Note Auction Re-Open

US TSYS/SUPPLY

Tsy futures holding near session highs ahead the $33B 10Y-Note auction (91282CEP2) reopen at the top of the hour. WI is currently running around 2.937%, 9.3bp rich to last month's 10Y re-open sale.

  • June auction recap: Tsy futures trade lower (still off early session lows) after $33B 10Y note auction (91282CEP2) reopen tailed yet again: 3.030% high yield vs. 3.017% WI; 2.41x bid-to-cover off last month's 2.49x
    • Indirect take-up receded to 63.59% vs. last month's 70.30% high; direct bidder take-up climbed to 19.37 from 18.21%, while primary dealer take-up climbed to 17.04% vs. 11.49%.
  • Timing: The 10Y note re-open results will available shortly after the competitive auctions closes at 1300ET.

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