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US TSYS/SUPPLY: Review 30Y Bond Auction

US TSYS/SUPPLY

Treasury futures bounce off weaker levels (USZ4 116-06, -1-31) after a decent $25B 30Y auction (912810UE6) stops through: 4.608% high yield vs. 4.630% WI; 2.64x bid-to-cover vs. 2.50x in the prior month.

  • Indirect take-up back to more normal level of 62.73% vs. 80.47% prior; direct bidder take-up 27.09% vs. 7.37% prior; primary dealer take-up 10.18% vs. 12.16% prior.
  • The next 30Y auction is tentatively scheduled for December 12.
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Treasury futures bounce off weaker levels (USZ4 116-06, -1-31) after a decent $25B 30Y auction (912810UE6) stops through: 4.608% high yield vs. 4.630% WI; 2.64x bid-to-cover vs. 2.50x in the prior month.

  • Indirect take-up back to more normal level of 62.73% vs. 80.47% prior; direct bidder take-up 27.09% vs. 7.37% prior; primary dealer take-up 10.18% vs. 12.16% prior.
  • The next 30Y auction is tentatively scheduled for December 12.