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|DATE||TIME||AMOUNT||SECURITY||CUSIP, HIGH YLD|
July's 7Y auction drew high yld of 0.446% (0.511% in June) rich vs. current 0.522% WI.
|BMO strategists suspect carry-over support for today's 7Y auction after strong demand for record 2- and 5Y auctions this wk. "The addition of a large month-end index extension" of 0.15Y "should also bolster demand." BMO said they're "cognizant this morning's monetary policy shift limits the set up to accommodate today's auction, but nonetheless expect a good result."|
|Cantor Fitzgerald also cite the large month-end extension, adding "the past two 7 year auctions have been very strong both stopping short by 0.7bps."|