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WI currently 0.285% / 0.280% ahead the...>

US TSYS/3Y
US TSYS/3Y: WI currently 0.285% / 0.280% ahead the US Tsy $44B 3Y Note auction
(912828ZU7) awarded 0.230% last month vs. 0.232% WI, on a bid/cover 2.54. Cantor
Fitzgerald's Justin Lederer said he expects demand to be decent around current
yield levels. "Overall, we do not believe the sector should trade much higher in
yield (high yield on Friday was 0.313% which was the highest yield since early
April), given the expectations that the Fed will remain at the zero-bound for
the foreseeable future and yield curve control (albeit we do not expect any
formal announcement until at least the fall)."

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