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Preview 30Y Bond Auction Reopen

US TSYS/SUPPLY

Tsy futures hold near this morning's post-data highs (TYU4 at 110-22.5 vs 110-24.5 high), curves steeper with the long end lagging ahead the $22B 30Y Bond auction re-open (912810UA4) at the top of the hour. WI currently running around 4.420%, 21.5bp rich vs. last month's tail:

  • May re-open auction recap: Treasury futures climbed off lows (USM4 116-14, +3) after $25B 30Y auction (912810AU4) auction stopped 0.6bp through: 4.635% high yield vs. 4.641% WI; 2.41x bid-to-cover vs. 2.37x in the prior month.
  • Indirect take-up inched up to 64.86% vs. 64.38% prior (Nov'23 low); direct bidder take-up 19.78% vs. 18.28% prior; primary dealer take-up 15.36% vs. 17.34%.
  • Timing: Today's results will be available shortly after the competitive auctions closes at 1300ET.
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