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Review $36B 7Y Auction, Stops Through

US TSYS/SUPPLY

Tsys holding near highs after $36B 7Y note auction (91282CFL0) stops through: 3.898% high yield vs. 3.905% WI; 2.57x bid-to-cover vs. 2.65x last month.

    • Indirect take-up: falls to 62.49% vs. 75.72% prior
    • Direct take-up: rebounds to 24.66% vs. 15.70% prior
    • Primary dealer take-up: bounces to 12.85% vs. last month's 8.58%
  • The next 7Y auction is tentatively scheduled for October 27.

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