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Review 30Y Bond Auction -- Strong

US TSYS/SUPPLY

Tys pare losses after strong $20B 30Y auction re-open (912810TD0), Bond sale trades through 2.5bp on 2.375% high yield vs. 2.400% WI; 2.46x bid-to-cover vs. 2.30x last month.

  • Indirect take-up climbs to 71.25% vs. 67.95% in Feb; direct bidder take-up recedes to 16.42% vs. 17.75% prior, primary dealer take-up falls to 12.06% vs. 14.30%.
  • The next 30Y auction (re-open) is tentatively scheduled for April 13

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