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Preview: 30Y Bond Auction

US TSYS/SUPPLY

Tsy futures trading weaker/off recent lows ahead the $21B 30Y Bond auction (912810TJ7) at the top of the hour. WI currently running around 3.095%, 2bp rich to last month's high yield stop.

    • July auction recap: Tys bounced, bonds back near midmorning highs after $19B 30Y auction re-open (912810TG3) stopped through: 3.115% high yield vs. 3.135% WI; 2.44x bid-to-cover vs. 2.35x the prior month.
    • Indirect take-up climbed to 73.20% vs. 69.02% in Jun; direct bidder take-up 16.34% vs. 16.90% prior; primary dealer take-up fell to 10.46% vs.14.08%.
  • Timing: The 30Y Bond results will available shortly after the competitive auctions closes at 1300ET.

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