February 24, 2025 18:04 GMT
US TSYS/SUPPLY: Review: Decent Treasury 2Y Note Auction
US TSYS/SUPPLY
- Tsy futures remain bid (TYH5 +4.5 at 109-26.5) after the latest $69B 2Y note auction (91282CMP3) stops out: 4.169% high yield vs. 4.179% WI; 2.56x bid-to-cover vs. 2.66x prior.
- Peripheral stats has Indirect take-up surging to 85.49% from 65.02% prior, directs retreats to 7.64% vs. 21.27% prior, primary dealer take-up falls to 6.87% vs. 13.71% prior.
- The next 2Y auction is tentatively scheduled for March 25.
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