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Preview: 30Y Bond Auction Re-Open

US TSYS/SUPPLY

Tsy futures weaker/off lows ahead the $19B 30Y Bond auction re-open (912810TG3) at the top of the hour. WI currently running around 3.190%, 19.3bp cheaper to last month's high yield stop. May auction recap:

    • Tys blipped higher after $22B 30Y auction (912810TG3) stopped through: 2.997% high yield vs. 3.002% WI; 2.38x bid-to-cover vs. 2.30x in April.
    • Indirect take-up climbed to 69.66% vs. 65.23% prior; direct bidder take-up slipped to 16.60% vs. 18.91% prior; primary dealer take-up 13.74% vs. 15.87%.
  • Timing: The 30Y Bond re-open results will available shortly after the competitive auctions closes at 1300ET.

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