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Preview 10Y Note Auction Re-Open

US TSYS/SUPPLY

Treasury futures holding modest gains (TYU4 +3 at 110-16) ahead of the $39B 10Y note auction re-open (91282CKQ3) at the top of the hour. WI is currently running around 4.282%, 15.6bp rich to last month's stop.

  • June auction recap: Treasury futures climbed higher (TYU4 +9.5 to 109-12.5) after the $39B 10Y auction re-open (91282CKQ3) stopped 2.1bp through: 4.438% high yield vs. 4.459% WI; 2.67x bid-to-cover vs. 2.49x prior.
  • Indirect take-up climbed to 74.60% vs. 65.52% prior; direct bidder take-up fell to 13.81% from 18.74% prior; primary dealer take-up down to 11.59% vs. 15.73% prior.
  • Timing: The 10Y note auction results will be available shortly after the competitive auctions closes at 1300ET.
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Treasury futures holding modest gains (TYU4 +3 at 110-16) ahead of the $39B 10Y note auction re-open (91282CKQ3) at the top of the hour. WI is currently running around 4.282%, 15.6bp rich to last month's stop.

  • June auction recap: Treasury futures climbed higher (TYU4 +9.5 to 109-12.5) after the $39B 10Y auction re-open (91282CKQ3) stopped 2.1bp through: 4.438% high yield vs. 4.459% WI; 2.67x bid-to-cover vs. 2.49x prior.
  • Indirect take-up climbed to 74.60% vs. 65.52% prior; direct bidder take-up fell to 13.81% from 18.74% prior; primary dealer take-up down to 11.59% vs. 15.73% prior.
  • Timing: The 10Y note auction results will be available shortly after the competitive auctions closes at 1300ET.