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Review 2Y Note Auction: Strong

US TSYS/SUPPLY

Tsy futures climbing back near late morning highs after strong $42B 2Y note auction (91282CGG0) stops through: 4.139% high yield vs. 4.150% WI; 2.94x bid-to-cover vs. 2.71x prior.

  • Indirect take-up climbs to 64.99% vs. 62.22% prior month, direct take-up 18.73% vs. 18.71%. primary dealer take-up 16.28% vs. 19.07%,
  • Next 2Y auction is tentatively scheduled for February 21.

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