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Review $43B 5Y Note Auction

US TSYS/SUPPLY

Tsy futures continue to climb off midday lows after $43B 5Y note auction (91282CHE4) trades through: 3.749% high yield vs. 3.762% WI; 2.58x bid-to-cover vs. 2.54x in the prior month.

  • Indirect take-up at 72.71% vs. 69.07% prior; Direct take-up 17.96% vs. 17.29% prior; Primary dealer take-up 9.34% vs. 13.64%.
  • The next 5Y auction is tentatively scheduled for Jun 27.

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