Free Trial

Preview $50B 7Y Note Auction

US TSYS/SUPPLY

Tsy $50B 7Y-Note auction (91282CEB3) at the top of the hour, WI inching lower is currently running around 1.905%, 13.6bp cheap to last month's high yield.

  • January auction recap: Little reaction to a small stop for $53B 7Y note auction (91282CDW8): 1.769% high yield vs. 1.770% WI; 2.36x bid-to-cover vs. 2.21x last month. Long-end Tsys held near session highs, 7s10s see-sawed around 2.196 (-.843).
    • Indirect take-up climbed to 62.65% vs. 59.25% in Dec
    • Primary dealer take-up: fell to 14.49% vs. 21.29%;
    • Direct take-up: 22.86% vs.19.45%
  • Timing: The 7Y note results will available shortly after the competitive auctions closes at 1300ET.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.