June 28, 2022 17:06 GMT
Bonds sell off lows after weak $40B 7Y note auction (91282CEV9) tails (third consecutive weak sale): 3.280% high yield vs. 3.260% WI; 2.48x bid-to-cover vs. 2.69x last month.
- Indirect take-up: recede to 61.86% vs. 77.86% in May
- Direct take-up: climbs to 20.41% vs. 15.76%
- Primary dealer take-up: rebounds to 17.73% vs. last moth's record low of 6.38%
- The next 7Y auction is tentatively scheduled for July 28.