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Review 2Y Note Auction: Trades Through

US TSYS/SUPPLY

Tsy futures gain slightly after the $42B 2Y note auction (91282CHL8) trades through: 4.670% high yield vs. 4.680% WI; 2.86x bid-to-cover vs. 2.90x prior.

  • Indirect take-up climbs to 68.49% vs. 68.21% prior month, direct take-up 18.17% vs. 15.60% prior, primary dealer take-up 13.34% vs. 16.19%,
  • The next 2Y auction is tentatively scheduled for July 24.

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