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Tsy Auctions On Tap Includes Record $47B 7Y Note

US TSYS/SUPPLY
DATETIMEAMOUNTSECURITYCUSIP, HIGH YLD
27-Aug1130ET$30B4W-Bill(9127964A4), 0.080%
27-Aug1130ET$35B8W-Bill(9127964K2), 0.090%
27-Aug1300ET$47B7Y-Note(91282CAH4)

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."

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