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Preview $60B 2Y Note Auction


WI running 0.155% / 0.150% ahead the US Tsy $60B 2Y Note (91282CBU4) compared to last month that drew 0.119% high yield vs. 0.118% WI and 2.44 bid/cover. Cantor Fitzgerald strategist Justin Lederer expects a "fair auction".

  • With the Fed expected to remain on hold into 2023 (albeit some 'dots' now have hikes in 2022) and potential demand as investors move slightly out the curve with shorter maturities (bills) trading at or extremely close to 0%.

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