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

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

with a $58B package of 3-year, 10-year, and 30-year auctions during the week

ahead. 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 adds "unusual timing of the auctions this week" as 3/10/30Y "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."