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Review 30Y Bond Auction, Small Tail

US TSYS/SUPPLY

Tys pared gains, bouncing back near midday highs after $20B 30Y auction re-open (912810TD0), Bond sale tails slightly: 2.815% high yield vs. 2.804% WI; 2.30x bid-to-cover vs. 2.46x last month.

  • Indirect take-up recedes to 65.23% vs. 71.25% in Mar; direct bidder take-up climbs to 18.91% vs. 16.42% prior; primary dealer take-up climbs to 15.87% vs. 12.06%.
  • The next 30Y auction (re-open) is tentatively scheduled for May 12

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