Free Trial

Preview 10Y Note Auction Re-Open

US TSYS/SUPPLY

Tsy futures trading near highs after this morning's gap bid on lower than anticipated June CPI. Shorts to intermediates outperforming ahead of the $32B 10Y note auction re-open (91282CHC8) at the top of the hour. WI is currently running around 3.860%, 6.9bp cheap to last month's tail.

  • June auction recap: Treasury futures receded after the $32B 10Y note auction re-open (91282CHC8) tailed again with 3.791% high yield vs. 3.776% WI; 2.36x bid-to-cover vs. 2.45x prior.
  • Indirect take-up 62.28% vs. 67.05% prior; direct bidder take-up 19.92% from 19.46% prior; primary dealer take-up bounces to 17.80% vs. 13.04%.
  • Timing: The 10Y note auction results will be available shortly after the competitive auctions closes at 1300ET.

To read the full story

Close

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.