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Review 10Y Auction, Strong Sale

US TSYS/SUPPLY

Tsy futures rally after strong $35B 10Y note auction (91282CGM7) stops through w/ 3.613% high yield vs. 3.642% WI; 2.66x bid-to-cover vs. 2.53x prior.

  • Indirect take-up surges to 79.45% vs. 67.02% prior; direct bidder take-up 15.19% from 17.92% prior; new low primary dealer take-up 5.36% vs. 15.06%.
  • Next (new) 10Y auction is tentatively scheduled for March 8.

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