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Preview 30Y Bond Auction Re-Open, 3-For-3?

US TSYS/SUPPLY

Tsy futures holding near the top end of the session range ahead the $22B 30Y Bond auction re-open (912810TB4). WI currently running around 2.072%, appr 17.7bp cheaper to last month's high yield. December recap:

  • Tsys gapped lower after (another) weak $22B 30Y Bond auction re-open (912810TB4) large tail: 1.895% high yield vs. 1.863% WI; 2.22x bid-to-cover better than 2.20x last month (2.29x 5-month average)
    • Indirect take-up 60.80% vs. Nov's 59.00%; direct bidder take-up 18.49% vs. 15.78% prior, while primary dealer take-up recedes to 20.71% vs. 25.23%.
    • The next 30Y auction is tentatively scheduled for February 10.

Timing: The 30Y Bond re-open results will available shortly after the competitive auctions closes at 1300ET.

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