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US TSYS/30Y
US TSYS/30Y: Stone McCarthy Research Associates' (SMRA) John Canavan on bidding
history for prior 30Y bond auctions, "have stopped through the bidding deadline
bid sides by an average of 0.1 bps over the past year, although that changes to
an average tail of 0.1 bps when excluding last month's terrific results."
Canavan also notes the "four Refunding 30-year auctions over the past year had
an average tail of 0.1 bps due to a particularly weak May Refunding auction -
the February, August, and November Refunding bond auctions all stopped through
their respective bidding deadline bid sides."

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