Free Trial

Preview 10Y Note Auction Re-Open

US TSYS/SUPPLY

Treasury futures holding near session lows (TYM4 108-16.5 vs. -15.5 low) ahead of the $39B 10Y note auction reopen (91282CJZ5) at the top of the hour. WI is currently running around 4.512%, 34.6bp cheap to last month's tail.

  • March auction recap: Treasury futures extended lows (TYM4 111-03) after the $39B 10Y re-open sale (91282CJZ5) tailed 1.1bp: 4.166% high yield vs. 4.155% WI; 2.51x bid-to-cover vs. 2.56x prior.
  • Indirect take-up receded to 64.29% vs. 70.97% prior; direct bidder take-up bounced to 18.65% from 16.05% prior; primary dealer take-up to 17.06% vs. 12.98%.
  • 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.