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Preview: 30Y Bond Auction Reopen

US TSYS/SUPPLY

Tsy futures mostly higher ahead the $18B 30Y Bond auction reopen (912810TN8) at the top of the hour. WI currently running around 3.897%, 21.1bp cheap to last month's tail.

  • February auction recap: Treasury futures reversed course after the weak $21B 30Y auction (912810TL2) tailed 3.1bp: 3.686% high yield vs. 3.655% WI; 2.25x bid-to-cover vs. 2.45x prior month.
  • Indirect take-up fell to 65.21% vs. 74.63% prior; direct bidder take-up 18.49% vs. 16.33% prior; primary dealer take-up 15.84% vs.9.04%.
  • Timing: The 30Y Bond results will available shortly after the competitive auctions closes at 1300ET.

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