US: Reverse Repo Operation
NY Fed reverse repo usage at 1,876.119B w/ 91 counterparties vs. prior session's 1,864.225B (all-time high of $1,906.802B on Friday, March 29, 2022).
NY Federal Reserve/MNI
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US TSY FUTURES: Yld Curves Making New Highs
Bonds extending session lows last five minutes, yield curves bear steepening to new highs. Note, 2s10s currently +10.629 at 28.259 compares to inverted low of -9.561 a week ago Sunday as recession calls from dealers peaked.
Bloomberg/MNI
WHITE HOUSE: White House Press Conference Beginning Now
The White House daily press conference is shortly due to begin. A livestream can be followed: Here,
- White House Press Secretary Jen Psaki will deliver updates on the Biden administration's measure to counter Russian aggression in Ukraine, and the high-level talks with India today.
US TSYS/SUPPLY: Review: Decent 3Y Auction
Treasury futures still weaker/near lows after $46B 3Y note auction (91282CEH0) trades through: 2.738% high yield vs. 2.740% WI; 2.48x bid-to-cover vs. 2.39x last month.
- Indirect take-up falls to 53.45% vs. 55.09% prior; direct bidder take-up at 17.56 vs. last month's 18.60% high, primary dealer take-up climbs to new year high of 28.99% vs. 26.31% in March.
- The next 3Y auction is tentatively scheduled for May 10.
