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SMRA's John Canavan said today's 1pm.....>

US TSYS/7Y
US TSYS/7Y: SMRA's John Canavan said today's 1pm ET US$28B 7Y note auction will
raise about $1.218B in net new cash, "after accounting for a $26.7802 billion
maturing issue, excluding SOMA holdings."
- He adds that the Monday $34B 5Y note action technically paid down $26.73B,
"because it is a combination of both the August 2012 5-year auction and the
August 2015 2-year auction." He said the Monday 2-year note auction raised "all
new cash, because the 2-year note auction in 2015 turned out to be a reopening
of the old 5-year." 

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