January 28, 2025 17:16 GMT
US TSYS/SUPPLY: Preview 7Y Auction
US TSYS/SUPPLY
- Tsy $44B 7Y-Note auction (91282CMK4) is at the top of the hour, WI currently running around 4.470%, 6.2bp rich to last month's stop.
- December auction recap: Tsys futures gapped off lows (TYH5 currently 108-17.5 last, -0.5) after the $44B 7Y note auction (91282CMC2) stopped 2.2bp through with 4.532% high yield vs. WI of 4.554%; bid-to-cover 2.76x vs. 2.71x prior.
- Peripheral stats: Indirect take-up jumped to 87.88% vs. 64.08% in November; Direct take-up fell to record low of 2.84% vs. 25.94% prior, Dealers took 9.27% vs. 9.99% prior
- Timing: The 7Y note results will available shortly after the competitive auction closes at 1300ET.
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