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US Tsy 20Y Bond Re-Open

OUTLOOK

Apr-16 Fed entered media blackout regarding monetary policy through Apr-29. Third and final day of no significant data for markets to digest/react to. NY Fed Buy-back and Tsy auctions on tap -- focus on 20Y bond re-open. In light of the small .2bp average tail over the last 5 months, bond traders remain a bit gun-shy of the 20Y supply after the last two auction performances.

  • US Data/Speaker Calendar (prior, estimate)
  • Apr-21 0700 MBA Mortgage Applications (-3.7%, --)
  • Apr-21 1030 NY Fed buy-op: Tsy 4.5Y-7Y, appr $6.025B
  • Apr-21 1130 US Tsy $35B 119D-Bill CMB auction
  • Apr-21 1300 US Tsy $24B 20Y Bond R/O auction

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