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Preview Tsy 3Y Note Auction

US TSYS/SUPPLY
Tsy futures trading broadly weaker/near lows ahead the $40B 3Y note auction (91282CGE5) at the top of the hour. WI is currently at 4.005%, 8.8bp rich to last month's tail.
  • December auction recap: Little react in Treasury futures, weaker after $40B 3Y note auction (91282CGA3) small tail: 4.093% high yield vs. 4.092% WI; 2.55x bid-to-cover vs. 2.57x prio month.
  • Indirect take-up to 61.71% vs. 62.18% prior; direct bidder take-up at 20.44% vs. 17.04% prior; primary dealer take-up 17.85% vs. 20.78%.
  • Timing: The 3Y note sale results will available shortly after the competitive auctions closes at 1300ET.

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