Free Trial

Review 2Y Note Auction: Small Tail

US TSYS/SUPPLY
  • Tsy futures holding recent lows (TYH4 -6 at 109-22) after the $63B 2Y note auction (91282CKB6) draws 4.691% high yield vs. 4.687% WI; 2.49x bid-to-cover vs. 2.57x prior.
  • Indirect take-up at 65.16% vs. 65.30% prior (July'23 high, 5-auction average of 62.3%), directs took 20.11% vs. 19.87% last month (20.9% 5-auction average), primary dealer take-up 14.73% vs. 14.83% prior.
  • The next 2Y auction is tentatively scheduled for March 25.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.