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Review 2Y Note Auction: Trades Through

US TSYS/SUPPLY

Tsy futures holding gains, little react after $42B 2Y note auction (91282CFX4) trades through: 4.505% high yield vs. 4.512% WI; 2.64x bid-to-cover vs. 2.59x prior.

  • Indirect take-up climbs to 56.98% vs. 50.51% last month, primary dealer take-up 22.39% vs. 25.28%, direct take-up 20.62% vs. 24.21%.
  • Next 2Y auction is tentatively scheduled for December 27.

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