MNI China Daily Summary: Thursday, March 13

MNI BRIEF: China Has Been In Communication With U.S. On Trade

MNI BRIEF: China To Enhance Customs Clearance

MNI BRIEF: China Consumer Satisfaction Up

MNI: PBOC Net Drains CNY68.6 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1728 Thurs; -0.64% Y/Y

MNI: EUROZONE JAN IP +0.8% M/M, +0% Y/Y

MNI: SWEDEN FINAL FEB CPIF +2.9% Y/Y

MNI: US FEB TREASURY BUDGET -$307.0B

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

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US TSYS/SUPPLY: Preview: 2Y Note Auction

US TSYS/SUPPLY
USBulletMarketsFixed Income BulletsNorth America
  • Still well bid, Tsy futures are near this morning's lows (TYH5 currently +18 at 109-01 vs. 108-28.5 low) ahead of the $69B 2Y note auction (91282CMH1) at 1130ET, WI is currently running at 4.214%, 12.1bp rich to last month's in-line sale.
  • December auction recap: Tsy futures held near session lows after the $69B 2Y note auction (91282CME8) came out on the screws: 4.335% high yield vs. 4.335% WI; 2.73x bid-to-cover vs. 2.77x prior.
  • Indirect take-up climbed to 82.09% from 71.63% prior, directs slips to 6.65% vs. 19.17% prior, primary dealer take-up 11.26% vs. 9.20% prior.
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  • Still well bid, Tsy futures are near this morning's lows (TYH5 currently +18 at 109-01 vs. 108-28.5 low) ahead of the $69B 2Y note auction (91282CMH1) at 1130ET, WI is currently running at 4.214%, 12.1bp rich to last month's in-line sale.
  • December auction recap: Tsy futures held near session lows after the $69B 2Y note auction (91282CME8) came out on the screws: 4.335% high yield vs. 4.335% WI; 2.73x bid-to-cover vs. 2.77x prior.
  • Indirect take-up climbed to 82.09% from 71.63% prior, directs slips to 6.65% vs. 19.17% prior, primary dealer take-up 11.26% vs. 9.20% prior.