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Preview 30Y Bond Auction Reopen

US TSYS/SUPPLY

Tsy futures hold near this morning's post-CP data highs (TYU4 at 111-08.5 vs 111-10.5 high), curves steeper ahead the $22B 30Y Bond auction re-open (912810UA4) at the top of the hour. WI currently running around 4.388%, 1.5bp rich vs. last month's stop:

  • June re-open auction recap: Treasury futures extend highs (USU4 120-01, +28) after the $22B 30Y auction reopen (912810AU4) stopped 1.6bp through: 4.403% high yield vs. 4.419% WI; 2.49x bid-to-cover vs. 2.41x in the prior month.
  • Indirect take-up climbs to 68.50% vs. 64.86% prior; direct bidder take-up falls back to 17.80% vs. 19.78% prior; primary dealer take-up 13.70% vs. 15.36%.
  • Timing: Today's results will be available shortly after the competitive auctions closes at 1300ET.

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