FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Preview $62B 7Y Note Auction

US TSYS/SUPPLY

Final leg of early week's note supply, latest 7Y note (91282CCE9) auction is the fifth consecutive offering at $62B, up from $59B in December.

  • Performance of the 7Y auction continues to lag all other Tsy offerings: averaging -1.3p tail over the last five months. The 7Y yield currently running around 1.282% vs. last month's auction high yield of 1.306% that tailed slightly vs. 1.305% WI.
  • Bid-to-covers have averaged around 2.24x over the last 5 months, with April at 2.31x while Feb holds low of 2.04x.
  • Indirect take-up of 57.05% and 57.21% last two months are better than the 5 month average of 55.35% -- only because the Feb auction take-up was so poor at 39.80%. Otherwise indirects averaged in the mid-60%. Primary dealer take-up only 22.32% last month vs. 25.83% 5M avg, while direct take-up bounced to 20.59% vs. 17.99% in March (compares to 18.79% 5M avg).
  • The next 7Y auction is tentatively scheduled for June 24.
  • Timing: The 7Y note results will be available shortly after the competitive auctions closes at 1300ET
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.