IRAN: Headlines from Iran's Top Joint Military Command
Jun-11 16:49
* "IRAN'S TOP JOINT MILITARY COMMAND: CONTRADICTION U.S. BEHAVIOR IS THE MAIN CAUSE OF INSECURITY ...
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FED: US TSY 10Y AUCTION: NON-COMP BIDS $131 MLN FROM $42.000 BLN TOTAL
May-12 16:45
- US TSY 10Y AUCTION: NON-COMP BIDS $131 MLN FROM $42.000 BLN TOTAL
FED: Warsh Confirmed To Fed Board As Expected, Chair Vote Likely Tomorrow
May-12 16:38
- The Senate has confirmed Kevin Warsh to the Fed’s Board of Governors as widely expected, in a 51-45 vote.
- He is also expected to pass a separate and final vote to confirm him as the next Fed Chair tomorrow (per previous Politico reporting), having cut it fine before Jerome Powell’s tenure ended May 15.
- With Powell having indicated he will stay on the Board of Governors until the DoJ investigation "is well and truly over, with transparency and finality" (his Board position runs until Jan 31, 2028), leading dove Stephen Miran’s short stint as Fed Governor looks to have concluded for now.
US TSYS/SUPPLY: Preview 10Y Auction
May-12 16:27
Treasury futures remain weaker, near recent session lows (TYM6 110-02 -11, yld 4.4539%) ahead of the $42B 10Y Note auction (91282CQQ7) at the top of the hour. WI is currently 4.456%, 17.4bp cheap to last month's (small) tail:
- April auction recap: Treasury futures retreated (TYH6 -5.5 at 112-11) after the $42B 10Y note auction (91282CPZ8) tailed: drawing 4.282% high yield vs. 4.280% WI; 2.43x bid-to-cover vs. 2.45x prior - just off the 5-auction average of 2.47x.
- Peripheral stats: indirect take-up retreated to 65.32% vs. 74.45% prior; direct bidder take-up 23.88% from 12.83% prior; primary dealer take-up to 10.80% vs. 12.72% prior.
