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Review 20Y Bond Auction Reopen

US TSYS/SUPPLY

Little reaction from Tsy futures after $12B 20Y bond auction re-open (912810TS7) trades near in=line with WI: 4.036% high yield vs. 4.037% WI; 2.68x bid-to-cover vs. prior month's 2.87x.

  • Indirect take-up 68.75% vs. 74.58% last month; direct bidder take-up 21.68% vs. 17.62% prior; primary dealer take-up 9.57% vs. 7.79%.
  • The next 20Y auction (re-open) is tentatively scheduled for August 23.

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