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US TSYS/SUPPLY: Review 7Y Note Auction: Stops Through, New Low Dealer Take

US TSYS/SUPPLY
  • Tsys futures climbing off recent lows  (TYZ4 currently 110-18 last, -4.5) after the $44B 7Y note auction (91282CLU3) stops 2.0bp through with 4.215% high yield vs. WI of 4.235%; bid-to-cover climbs to 2.74x vs. 2.63x prior.
  • Peripheral stats show Indirect take-up at 71.96% vs. 70.8% last month; Direct take-up at 20.57% vs. 20.26% prior, new low for Dealers taking 7.47% vs. 8.94% prior.
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  • Tsys futures climbing off recent lows  (TYZ4 currently 110-18 last, -4.5) after the $44B 7Y note auction (91282CLU3) stops 2.0bp through with 4.215% high yield vs. WI of 4.235%; bid-to-cover climbs to 2.74x vs. 2.63x prior.
  • Peripheral stats show Indirect take-up at 71.96% vs. 70.8% last month; Direct take-up at 20.57% vs. 20.26% prior, new low for Dealers taking 7.47% vs. 8.94% prior.