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Review 30Y Bond Auction Re-Open Big Tail

US TSYS/SUPPLY

Tsys gap lower after (another) weak $22B 30Y Bond auction re-open (912810TB4) large tail:1.895% high yield vs. 1.863% WI; 2.22x bid-to-cover better than 2.20x last month (2.29x 5-month average)

  • Indirect take-up 60.80% vs. Nov's 59.00%; direct bidder take-up 18.49% vs. 15.78% prior, while primary dealer take-up recedes to 20.71% vs. 25.23%.
  • Next 30Y Bond auction re-open is tentatively scheduled for January 13.

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