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Preview Tsy 3Y Note Auction

US TSYS/SUPPLY

Tsy coupon sale $42B 3Y-Note (91282CFE6) at the top of the hour, $1B less than last month's sale. WI is currently running around 3.200%, 10.7bp cheaper than last July's high yield.

  • July auction recap: Treasury futures held near highs, little react after $43B 3Y note auction (91282CEY3) small stop through: 3.093% high yield vs. 3.095% WI; 2.43x bid-to-cover vs. 2.45x last month.
  • Indirect take-up climbed to 60.37% vs. 51.51% prior; direct bidder take-up at 19.35 vs. June's 23.57% high; primary dealer take-up receded to 20.28% vs. last Junes year high of 24.91%.
  • Timing: The 3Y note sale results will available shortly after the competitive auctions closes at 1300ET.

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