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T-Notes Hovering Around Monday's Low After Supply Provided Headwinds

US TSYS

T-Notes last -0-01+ at 139-13+, hovering around Monday's low.

  • A reminder that T-Notes and 10-Year yields continue to respect their
    recent ranges, with the uptick in equity markets and soft 2- & 5-Year
    supply providing headwinds for the space as we moved through NY
    hours, leaving T-Notes at worst levels come the NY close, as the cash
    curve steepened into the bell.
  • In terms of auction specifics, record low clearing yields and auction
    sizes saw tails of under 1.0bp vs. WI for 2- & 5-Year supply, with
    cover ratios below the recent averages, while dealer takedown
    topped the recent averages.
  • Elsewhere, 5-part $11bn corporate supply from AT&T stole the
    headlines.
  • Headline and flow watching to the fore in Asia, with little of note on
    the docket.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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