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Review 30Y Bond Auction: Strong

US TSYS/SUPPLY

Treasury futures extend highs (USU4 120-01, +28) after the $22B 30Y auction reopen (912810AU4) stopped 1.6bp through: 4.403% high yield vs. 4.419% WI; 2.49x bid-to-cover vs. 2.41x in the prior month.

  • Indirect take-up climbs to 68.50% vs. 64.86% prior; direct bidder take-up falls back to 17.80% vs. 19.78% prior; primary dealer take-up 13.70% vs. 15.36%.
  • The next 30Y auction (re-open) is tentatively scheduled for July 11.
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Treasury futures extend highs (USU4 120-01, +28) after the $22B 30Y auction reopen (912810AU4) stopped 1.6bp through: 4.403% high yield vs. 4.419% WI; 2.49x bid-to-cover vs. 2.41x in the prior month.

  • Indirect take-up climbs to 68.50% vs. 64.86% prior; direct bidder take-up falls back to 17.80% vs. 19.78% prior; primary dealer take-up 13.70% vs. 15.36%.
  • The next 30Y auction (re-open) is tentatively scheduled for July 11.