Free Trial

Tsy Auctions On Tap Includes Record $51B 5Y Note

US TSYS/SUPPLY
DATETIMEAMOUNTSECURITYCUSIP/YIELD
26-Aug1130ET$25B105D Bill CMB(9127965C9), 0.100%
26-Aug1130ET$30B154D Bill CMB(912796B65), 0.110%
26-Aug1300ET$22B2Y-Note/FRN(91282CAA9)
26-Aug1300ET$51B5Y-Note(91282CAJ0)

July's 5Y auction drew high yld of 0.288% (0.330% in June) rich vs. current 0.307% WI.

While the reversal in rates this wk is debatable (equally ephemeral virus vaccine and/or phase I US/China trade talk?) the rise in ylds "has incorporated a decent concession" for day's 5Y auction BMO strategists say, while demand "will be a welcome gauge of investor sentiment" ahead Fed Chair Powell remote talk for Jackson Hole Wy event. BMO expects concession to extend ahead the auction, "otherwise expect a stop near the screws with decent bidding stats."
Societe Generale strategists do "not see a clear signal from a relative value perspective for the upcoming 5y auction, as the 5y sector appears fair in asset swap and rich on the curve versus the 2s and 10s."

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.