CHILE: President Boric Appoints Alvaro Garcia As Energy Minister
Oct-16 16:30
* The Chilean peso has extended gains through Thursday's session, buoyed by a rally in copper off ...
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US TSYS/SUPPLY: 20Y Preview: WI Yield 26bp Lower Than Last Month
Sep-16 16:22
- $13bn 20Y re-open at 1300ET (912810UN6)
- As a barometer of recent duration demand, last week’s 30Y auction was on the screws but with stronger details as the bid-to-cover and indirect take-up increased.
- That’s in contrast to last month’s 20Y auction which was in-line (high yield 4.876% vs WI 4.877%) but with weaker details.
- The bid-to-cover slipped from 2.79 to 2.54 for its lowest since May and before that February.
- More notably, the indirect take-up dropped from 67.4% to 60.6% for its lowest since Feb 2024 and before that Nov 2021. Directs took up some of that slack however, rising from 21.9% to 26.5% whilst dealer take only increased from 10.7% to 12.9%.
- Select stats from the past five auction average: Trade through by 0.1bp (ranging from through by 1.5bp to tailing by 1.2bp), bid-to-cover of 2.62 (ranging from 2.46 to 2.79), indirect dealer take of 66.9% (ranging from 60.6% to 70.7%) and dealer take of 14.2% (range 10.7% to 17.0%).
- Bloomberg currently shows the WI at 4.6175% for some 26bp lower than last month’s auction which could trim some relative demand. It would mark the lowest high yield since Oct 2024.
FED: US TSY TO SELL $100.000 BLN 4W BILL SEP 18, SETTLE SEP 23
Sep-16 16:05
- US TSY TO SELL $100.000 BLN 4W BILL SEP 18, SETTLE SEP 23
FED: US TSY TO SELL $65.000 BLN 17W BILL SEP 17, SETTLE SEP 23
Sep-16 16:05
- US TSY TO SELL $65.000 BLN 17W BILL SEP 17, SETTLE SEP 23
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