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Preview: 30Y Bond Auction

US TSYS/SUPPLY

Tsy futures firmer but off highs ahead the $22B 30Y Bond auction (912810TG3) at the top of the hour. WI currently running around 2.997%, 18.2bp cheaper to last month's high yield. April auction recap:

    • Tys pared gains, bounced back near midday highs after $20B 30Y auction re-open (912810TD0) tailed slightly: 2.815% high yield vs. 2.804% WI; 2.30x bid-to-cover vs. 2.46x last month.
    • Indirect take-up receded to 65.23% vs. 71.25% in Mar; direct bidder take-up climbed to 18.91% vs. 16.42% prior; primary dealer take-up climbs to 15.87% vs. 12.06%
  • Timing: The 30Y Bond re-open results will available shortly after the competitive auctions closes at 1300ET.

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