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Free AccessUS Treasuries prices held a lower...>
US TSYS SUMMARY: US Treasuries prices held a lower range in afternoon trading as
market digesting heavy corporate bond supply and a reasonably good $28B 7Y note
auction. AT&T is selling $22.5B seven-part debt deal, has launched.
- Tsy 7Y auction: Tiny tail to 2.126% rate, but strong 67.74% indirects, good
11.54% directs so small 20.62% for dealers to mop up.
- Tsys bounced off earlier session lows around 12:58pm ET amid large 10Y Tsy
futures block: apparent buy done for 10k TYU7 at 125-24+, as was trading
125-24/24+ at post time.
- Tsys earlier had pre-auction short set/sales into 7Y auction and some apparent
rate-lock hedging amid busy high-grade corporate bond issuance: AT&T debt deal
cited above; BNZ $650M 5.25Y, Amex two-part debt deal and BNZ 5.25Y debt deal.
- And there was buying of about 10,000 10Y Tsy futures done around 125-25/255
near 9:50am ET. Followed weaker NY Tsys opening after overnight 2Y trading
flows, morning pre-auction shorts/sales into 7Y auction and cash sales in 2Y Tsy
to 10Y Tsys.
- RP: 5Y traded tight, 2Y demand waned though; others quiet.
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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.