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US TSYS/SUPPLY: Review 3Y Note Auction: 1.2b Stop

US TSYS/SUPPLY
  • Treasury futures bounce briefly but remain weaker after $58B 3Y note auction (91282CMN8) 1.2bp stop, drawing 4.300% high yield vs. 4.312% WI; 2.79x bid-to-cover vs. 2.62x prior.
  • Peripheral stats see indirect take-up climbs to 74.00% vs. 60.98% prior; direct bidder take-up 15.82% from 19.67% prior; primary dealer take-up 10.18% vs. 19.36% prior.
  • The next 3Y auction is tentatively scheduled for March 11.
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  • Treasury futures bounce briefly but remain weaker after $58B 3Y note auction (91282CMN8) 1.2bp stop, drawing 4.300% high yield vs. 4.312% WI; 2.79x bid-to-cover vs. 2.62x prior.
  • Peripheral stats see indirect take-up climbs to 74.00% vs. 60.98% prior; direct bidder take-up 15.82% from 19.67% prior; primary dealer take-up 10.18% vs. 19.36% prior.
  • The next 3Y auction is tentatively scheduled for March 11.