SMRA's John Canavan said the US......>

US TSYS/SUPPLY: SMRA's John Canavan said the US Tsy debt managers "will come to

mkt with a $58B package of 3-year, 10-year, and 30-year auctions" this week.

"They will hold a $24B 3Y auction Monday morning with an 11:30am bidding

deadline, a $20B reopening of the 2.25% 10-year note Monday afternoon, with a

1:00pm bidding deadline, and a $12B reopening of the 2.75% 30Y bond on Tuesday

afternoon, with a 1:00pm bidding deadline," he said. 

- He adds the auctions' "unusual timing" occurs as the 3/10/30Y auctions "all

settle on Friday, and Tsy keeps at least 1 day between auctions and their

settlements, which means Thu is out as an auction day. Also, Tsy doesn't like to

hold coupon auctions on the day of an FOMC decision, which also takes Wed out of

the mix, forcing Tsy to squeeze all the auctions in to the first 2 days of the

week." 

- He said 3/10/30Y auctions raise $31Bln after accounting for maturing issues;

3Y auction will pay down approximately $1B "after accounting for a $25B maturing

3Y note, while both the 10Y reopening and the 30Y reopening will raise all new

cash."