ENERGY: US Oil and Gas Rigs Down 1 on Week at 538: Baker Hughes
Aug-22 17:08
The US total oil and gas rig count was down 1 rig on the week at 538 rigs, according to Baker Hughes.
- This puts total US oil and gas rigs down 45, or 7.7% on the year.
- See breakdown by type and week on week change:
- Oil: 411 (-1) - down 72 rigs, or 14.9% on the year. This is the lowest level since mid-July, which itself was the smallest number of oil rigs since Oct. 2021
- Gas: 122 (0) - up 27 rigs, or 28.4% on the year.
- Miscellaneous: 5 (0) - unchanged on the year.
- Canada: 180 (-3) - down 40 rigs, or 18.2% on the year.
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BONDS: Europe Pi: German Structural Positioning Mixed, Longs Set (1/2)
Jul-23 17:08
German contracts' structural positioning has remained fairly steady since our previous Europe Pi positioning update two weeks ago (latest Here)
- As of Tuesday's close, Schatz remained in "long", and on the cusp of "very long" territory.
- Bund has reverted to short from "very short" previously.
- Buxl remains "short", with Bobl staying flat.
- Longs were set across all four contracts last week.
US TSYS/SUPPLY: Review 20Y Bond Auction Re-Open: Decent Sale
Jul-23 17:06
Treasury futures consolidates slightly (TYU5 111-01.5 -111.5) after the $13B 20Y Bond auction (912810UL0) reopen trades through, drawing a high yield of 4.935% vs 4.950% When-Issued yield at the cutoff; 2.79x bid-to-cover vs. 2.68x prior.
- Peripheral stats: indirect take-up at 67.4% vs. 66.7% prior; direct bidder take-up 21.9% from 19.9% prior; primary dealer take-up of 10.72%.
FED: US TSY 19Y-10M BOND AUCTION: HIGH YLD 4.935%; ALLOT 85.30%
Jul-23 17:02
- US TSY 19Y-10M BOND AUCTION: HIGH YLD 4.935%; ALLOT 85.30%
- US TSY 19Y-10M BOND AUCTION: DEALERS TAKE 10.72% OF COMPETITIVES
- US TSY 19Y-10M BOND AUCTION: DIRECTS TAKE 21.86% OF COMPETITIVES
- US TSY 19Y-10M BOND AUCTION: INDIRECTS TAKE 67.43% OF COMPETITIVES
- US TSY 19Y-10M BOND AUCTION: BID/COV 2.79
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