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Preview $16B 20Y Bond Auction

US TSYS/SUPPLY
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Tsy futures trading weaker, near midrange ahead today's $16B 20Y-Bond auction (912810TW8) at 1300ET. WI is currently running around 4.812%, 43.3bp rich to last month's stop:

  • October recap: Tsy futures held near session highs after $13B 20Y bond auction reopen (912810TU2): 5.245% high yield vs 5.257% WI; 2.59x bid-to-cover vs. prior month's 2.68x.
  • Mixed peripheral stats: the 11.9% dealer takedown was the highest since April and vs a 5-auction average 9.9%, with directs taking 15.2% (20.6% average) and indirects 72.9% (highest since June, and vs 69.5% average); bid-cover of 2.59x was middling vs the 2.68x average.
  • Timing: today's 20Y note results will be available shortly after the competitive auctions closes at 1300ET.
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Tsy futures trading weaker, near midrange ahead today's $16B 20Y-Bond auction (912810TW8) at 1300ET. WI is currently running around 4.812%, 43.3bp rich to last month's stop:

  • October recap: Tsy futures held near session highs after $13B 20Y bond auction reopen (912810TU2): 5.245% high yield vs 5.257% WI; 2.59x bid-to-cover vs. prior month's 2.68x.
  • Mixed peripheral stats: the 11.9% dealer takedown was the highest since April and vs a 5-auction average 9.9%, with directs taking 15.2% (20.6% average) and indirects 72.9% (highest since June, and vs 69.5% average); bid-cover of 2.59x was middling vs the 2.68x average.
  • Timing: today's 20Y note results will be available shortly after the competitive auctions closes at 1300ET.