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Preview $24B 20Y Tsy Auction Re-Open

US TSYS/SUPPLY

Tsy 20Y auction at the top of the hour, WI is currently running around 2.087% vs. September's 1.795% high yield as rates have traded lower over past month. Last month, Tsys traded steady/mixed after $24B 20Y Bond auction re-open (912810TA6) stopped through: drawing a high yield of 1.795% (1.850% in Aug) vs. 1.800% WI. Bid-to-cover 2.36 vs. 2.44 in August.

  • Indirect take-up climbed to 64.22% vs. 62.30% in August (60.00% 5M avg)
  • Primary dealer take-up: 16.89% vs. 20.46% 5M avg. Direct take-up 18.89% vs. 19.54% 5M avg.
  • Auction results available shortly after competitive auction close 1300ET. The next 20Y-Bond auction is scheduled for November 17.

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