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US TSYS/SUPPLY: Preview 5Y Auction

US TSYS/SUPPLY
USBulletMarketsFixed Income BulletsNorth America

Tsy futures hold moderately lower ahead this morning's $70B 5Y note auction (91282CMD0) at 1130ET. WI is currently running at 4.475%, 27.8bp cheap to last month's modest stop-through sale.

  • November auction recap: Tsy futures were little changed after $70B 5Y note auction (91282CMD0) stopped 0.2bp through (first stop since June): drawing 4.197% high yield vs. 4.199% WI; 2.43x bid-to-cover vs. 2.39x for the prior auction.
  • Peripheral stats show indirect take-up 64.12% vs. 76.35% prior, directs climbed to highest since Jul 2014 at 24.58% vs.9.47% prior, primary dealer take-up 11.30% vs. 14.17% prior.
  • Timing: Results for the latest 5Y note sale will be available shortly after the competitive auction close at 1130ET.
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Tsy futures hold moderately lower ahead this morning's $70B 5Y note auction (91282CMD0) at 1130ET. WI is currently running at 4.475%, 27.8bp cheap to last month's modest stop-through sale.

  • November auction recap: Tsy futures were little changed after $70B 5Y note auction (91282CMD0) stopped 0.2bp through (first stop since June): drawing 4.197% high yield vs. 4.199% WI; 2.43x bid-to-cover vs. 2.39x for the prior auction.
  • Peripheral stats show indirect take-up 64.12% vs. 76.35% prior, directs climbed to highest since Jul 2014 at 24.58% vs.9.47% prior, primary dealer take-up 11.30% vs. 14.17% prior.
  • Timing: Results for the latest 5Y note sale will be available shortly after the competitive auction close at 1130ET.