US TSYS/SUPPLY: Review 2Y Note Auction: Small Tail
Feb-24 18:05
Tsy futures hold modest losses after the $69B 2Y note auction (91282CQB0) tails with high yield of 3.455% vs. 3.453% WI; 2.63x bid-to-cover vs. 2.75x prior.
Peripheral stats: Indirect take-up retreats to 55.91% from 64.40% prior, directs rise to 34.28% vs. 28.27% prior, primary dealer take-up to 9.81% vs. 7.33% prior.
The next 2Y auction is tentatively scheduled for March 25.
FED: US TSY 2Y NOTE AUCTION: HIGH YLD 3.455%; ALLOTMENT 51.32%
Feb-24 18:02
US TSY 2Y NOTE AUCTION: HIGH YLD 3.455%; ALLOTMENT 51.32%
US TSY 2Y NOTE AUCTION: DEALERS TAKE 9.81% OF COMPETITIVES
US TSY 2Y NOTE AUCTION: DIRECTS TAKE 34.28% OF COMPETITIVES
US TSY 2Y NOTE AUCTION: INDIRECTS TAKE 55.91% OF COMPETITIVES
US TSY 2Y AUCTION: BID/CVR 2.63
CHF: SNB Schlegel Maintains Similar Rhetoric on FX Intervention
Feb-24 17:54
Not much different in terms of being prepared to act in the currency markets if necessary:
"SWISS NATIONAL BANK CHAIRMAN: MAIN TOOLS ARE SNB POLICY RATE AND WHERE NECESSARY OTHER INSTRUMENTS, LIKE INTERVENTIONS IN THE CURRENCY MARKETS"
"US TARIFFS AND UNCERTAINTY ARE BURDENING ECONOMIC GROWTH, BUT IN MANY PLACES REMAIN MORE RESISTANT THAN EXPECTED" (Reuters)