MNI UST Issuance Deep Dive: Sep 2024

MNI (NEW YORK) - EXECUTIVE SUMMARY:

September Auctions: Lack Of Pre-FOMC Concession

• August’s coupon auctions were relatively weak per MNI’s Relative Strength Indicator, though it was a month of two halves to some degree as it took until Aug 27 before a sale traded-through the when-issued yield.
• That sets up an interesting comparison with September’s sales, which also begin the month with yields at recent lows. 

Please see PDF for full analysis:

MNI_US_DeepDive_Issuance_2024_08.pdf