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Preview Tsy 3Y Note Auction

US TSYS/SUPPLY

Tsy futures trading weaker, near lows ahead of the $40B 3Y note auction (91282CGR6) at the top of the hour. WI is currently at 3.805%, 83.0bp rich to last month's in-line auction.

  • March auction recap: Treasury futures remained mixed, bonds near highs after $40B 3Y note auction (91282CGR6) came in as expected: 4.635% high yield vs. 4.635% WI; 2.73x bid-to-cover vs. 2.33x prior month.
  • Indirect take-up 62.49% vs. 59.05% prior; direct bidder take-up at 20.67% vs. 21.06% prior; primary dealer take-up 16.84% vs. 19.89%.
  • Timing today's 3Y note sale: results will available shortly after the competitive auctions closes at 1300ET.

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