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Preview: 30Y Bond Auction

US TSYS/SUPPLY

Tsy futures trading weaker, near session lows ahead the $25B 30Y Bond auction (912810TX6) at the top of the hour. WI currently running around 4.372%, 14.3bp cheap vs. last month's stop:

  • January reopen auction recap: Treasury futures pared losses (USH4 121-31, -6) after $21B 30Y auction reopen (912810TV0) stopped through for the second consecutive time: 4.229% high yield vs. 4.231% WI; 2.37x bid-to-cover vs. 2.43x in the prior month (2.38x 5-auction average)
  • Indirect take-up 67.77% vs. 68.47% prior; direct bidder take-up 17.71% vs. 17.3% prior; primary dealer take-up 14.52% vs. 14.23%.
  • Timing: Today's results will be available shortly after the competitive auctions closes at 1300ET.

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