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US TSYS/SUPPLY: Review 5Y Note Auction: No Tail This Time, On the Screws

US TSYS/SUPPLY
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • Tsy futures holding weaker/near prior auction levels after the $70B 5Y note auction (91282CLN9) comes out more or less on the screws: drawing 3.519% high yield vs. 3.518% WI; 2.38x bid-to-cover vs. 2.41x for the prior auction.
  • Peripheral stats show indirect take-up at 70.31% vs. 70.5% prior, directs took 18.23% vs.16.3% prior, primary dealer take-up 11.46% vs. 13.2% prior.
  • The next 5Y auction is tentatively scheduled for October 28.
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  • Tsy futures holding weaker/near prior auction levels after the $70B 5Y note auction (91282CLN9) comes out more or less on the screws: drawing 3.519% high yield vs. 3.518% WI; 2.38x bid-to-cover vs. 2.41x for the prior auction.
  • Peripheral stats show indirect take-up at 70.31% vs. 70.5% prior, directs took 18.23% vs.16.3% prior, primary dealer take-up 11.46% vs. 13.2% prior.
  • The next 5Y auction is tentatively scheduled for October 28.