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Preview Tsy 3Y Note Auction


Tsy futures trading mildly mixed, off highs with the short end underperforming ahead of the $40B 3Y note auction (91282CHM6) at the top of the hour. WI is currently at 4.547%, 35.5bp cheap to last month's auction.

  • June auction recap: Treasury futures remained weak, but off lows after $40B 3Y note auction (91282CGH7) tailed slightly: 4.202% high yield vs. 4.200% WI; 2.70x bid-to-cover vs. 2.93x prior month.
  • Indirect take-up fell to 61.53% vs. 73.35% in the prior month; direct bidder take-up at 21.74% vs. 13.66% prior; primary dealer take-up 16.74% vs. 12.99%.
  • Timing today's 3Y note sale: results will available shortly after the competitive auctions closes at 1300ET.

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