US TREASURY AUCTION CALENDAR: 20Y Reopen Trades Through

Tsy futures bounce off lows (TYH5 trading 108-17, -6.5), after decent $13B 20Y bond auction re-open (912810UF3) breaks two-consecutive tails, trading 1bp through: 4.900% high yield vs. 4.910% WI; 2.750x bid-to-cover vs. prior month's 2.50x.

Indirect take-up rises to 69.52% vs. 62.00% last month; direct bidder take-up 20.08% vs. 20.1% prior; primary dealer take-up falls to 10.40% vs. 17.90% prior.
The next 20Y auction is tentatively scheduled for February 19.

22-Jan	1130ET	$64B	17W Bills	(912797PK7), 4.205%
22-Jan	1130ET	$65B	33D CMB Bills	(912797NJ2), 4.20%
22-Jan	1300ET	$13B	20Y Bond R/O	(912810UF3), 4.900% vs. 4.910% WI
23-Jan	1130ET	$95B	4W Bills	(912797NJ2)
23-Jan	1130ET	$90B	8W Bills	(912797NS2)
23-Jan	1300ET	$20B	10Y TIPS	(91282CML2)

27-Jan	1130ET	$95B	13W Bills	(912797ND5)
27-Jan	1130ET	$90B	26W Bills	(912797PG6)
27-Jan	1300ET	TBA	2Y Note	(91282CMH1)
27-Jan	1300ET	TBA	5Y Note	(91282CMG3)
28-Jan	1130ET	TBA	42D CMB Bills	(912797MT1)
28-Jan	1130ET	TBA	2Y FRN	(91282CMJ7)
28-Jan	1300ET	TBA	7Y Note	(91282CMK4)

11-Feb	1300ET	TBA	3Y Note	5-Feb
12-Feb	1300ET	TBA	10Y Note	5-Feb
13-Feb	1300ET	TBA	30Y Bond	5-Feb

19-Feb	1300ET	TBA	20Y Bond	13-Feb
20-Feb	1300ET	TBA	30Y TIPS	13-Feb

24-Feb	1300ET	TBA	2Y Note	20-Feb
25-Feb	1300ET	TBA	5Y Note	20-Feb
26-Feb	1300ET	TBA	2Y FRN R/O	20-Feb
26-Feb	1300ET	TBA	7Y Note	20-Feb

11-Mar	1300ET	TBA	3Y Note	6-Mar
12-Mar	1300ET	TBA	10Y Note R/O	6-Mar
13-Mar	1300ET	TBA	30Y Bond R/O	6-Mar

18-Mar	1300ET	TBA	20Y Bond R/O	13-Mar
20-Mar	1300ET	TBA	10Y TIPS R/O	13-Mar

25-Mar	1300ET	TBA	2Y Note	20-Mar
26-Mar	1300ET	TBA	2Y FRN R/O	20-Mar
26-Mar	1300ET	TBA	5Y Note	20-Mar
27-Mar	1300ET	TBA	7Y Note	20-Mar

8-Apr	1300ET	TBA	3Y Note	3-Apr
9-Apr	1300ET	TBA	10Y Note R/O	3-Apr
10-Apr	1300ET	TBA	30Y Bond R/O	3-Apr

16-Apr	1300ET	TBA	20Y Bond R/O	10-Apr
17-Apr	1300ET	TBA	5Y TIPS	10-Apr

22-Apr	1300ET	TBA	2Y Note	17-Apr
23-Apr	1300ET	TBA	2Y FRN	17-Apr
23-Apr	1300ET	TBA	5Y Note	17-Apr
24-Apr	1300ET	TBA	7Y Note	17-Apr

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Indirect take-up rises to 69.52% vs. 62.00% last month; direct bidder take-up 20.08% vs. 20.1% prior; primary dealer take-up falls to 10.40% vs. 17.90% prior.
The next 20Y auction is tentatively scheduled for February 19.

22-Jan	1130ET	$64B	17W Bills	(912797PK7), 4.205%
22-Jan	1130ET	$65B	33D CMB Bills	(912797NJ2), 4.20%
22-Jan	1300ET	$13B	20Y Bond R/O	(912810UF3), 4.900% vs. 4.910% WI
23-Jan	1130ET	$95B	4W Bills	(912797NJ2)
23-Jan	1130ET	$90B	8W Bills	(912797NS2)
23-Jan	1300ET	$20B	10Y TIPS	(91282CML2)

27-Jan	1130ET	$95B	13W Bills	(912797ND5)
27-Jan	1130ET	$90B	26W Bills	(912797PG6)
27-Jan	1300ET	TBA	2Y Note	(91282CMH1)
27-Jan	1300ET	TBA	5Y Note	(91282CMG3)
28-Jan	1130ET	TBA	42D CMB Bills	(912797MT1)
28-Jan	1130ET	TBA	2Y FRN	(91282CMJ7)
28-Jan	1300ET	TBA	7Y Note	(91282CMK4)

11-Feb	1300ET	TBA	3Y Note	5-Feb
12-Feb	1300ET	TBA	10Y Note	5-Feb
13-Feb	1300ET	TBA	30Y Bond	5-Feb

19-Feb	1300ET	TBA	20Y Bond	13-Feb
20-Feb	1300ET	TBA	30Y TIPS	13-Feb

24-Feb	1300ET	TBA	2Y Note	20-Feb
25-Feb	1300ET	TBA	5Y Note	20-Feb
26-Feb	1300ET	TBA	2Y FRN R/O	20-Feb
26-Feb	1300ET	TBA	7Y Note	20-Feb

11-Mar	1300ET	TBA	3Y Note	6-Mar
12-Mar	1300ET	TBA	10Y Note R/O	6-Mar
13-Mar	1300ET	TBA	30Y Bond R/O	6-Mar

18-Mar	1300ET	TBA	20Y Bond R/O	13-Mar
20-Mar	1300ET	TBA	10Y TIPS R/O	13-Mar

25-Mar	1300ET	TBA	2Y Note	20-Mar
26-Mar	1300ET	TBA	2Y FRN R/O	20-Mar
26-Mar	1300ET	TBA	5Y Note	20-Mar
27-Mar	1300ET	TBA	7Y Note	20-Mar

8-Apr	1300ET	TBA	3Y Note	3-Apr
9-Apr	1300ET	TBA	10Y Note R/O	3-Apr
10-Apr	1300ET	TBA	30Y Bond R/O	3-Apr

16-Apr	1300ET	TBA	20Y Bond R/O	10-Apr
17-Apr	1300ET	TBA	5Y TIPS	10-Apr

22-Apr	1300ET	TBA	2Y Note	17-Apr
23-Apr	1300ET	TBA	2Y FRN	17-Apr
23-Apr	1300ET	TBA	5Y Note	17-Apr
24-Apr	1300ET	TBA	7Y Note	17-Apr

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