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Review 30Y Bond Auction Re-Open: Strong, Fourth Consecutive Stop

US TSYS/SUPPLY

Treasury futures paring losses (USM4 120-17, -7 vs. 120-04 low) after $22B 30Y auction (912810TX6) re-open stops through for the fourth consecutive time: 4.331% high yield vs. 4.352% WI; 2.47x bid-to-cover vs. 2.40x in the prior month.

  • Indirect take-up 69.29% vs. 70.70% prior; direct bidder take-up climbs to 16.77% vs. 14.49% prior; primary dealer take-up 13.93% vs. 14.52%.
  • The next 30Y auction (re-open) is tentatively scheduled for April 11.

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