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Review 30Y Bond Auction Reopen: Third Consecutive Tail

US TSYS/SUPPLY

Treasury futures extend lows after $20B 30Y auction reopen (912810TT5) tailed by 3.5bp: 4.837% high yield vs. 4.802% WI; 2.35x bid-to-cover vs. 2.46x in the prior month.

  • Indirect take-up 65.13% vs. 64.49% prior; direct bidder take-up 16.71% vs. 19.74% prior; primary dealer take-up 18.17% vs. 15.78%.
  • The next 30Y auction (re-open) is tentatively scheduled for November 9.

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