US Treasury Auction Calendar

Tsy futures climb off session lows (USU2 +2 at 138-20; 30YY 3.1627%) after strong $14B 20Y bond auction (912810TH1) re-open: 3.420% high yield vs. 3.447% WI; 2.65x bid-to-cover vs. last month's 2.60x.

• Indirect take-up climbs to new high of 77.97% vs. last months 67.44%; direct bidder take-up 14.09% vs. 20.20% prior, primary dealer take-up falls to new low of 7.94% vs. 12.35%.

Date	Time	Amt	Security	CUSIP, Yield
20-Jul	1130ET	$30B	119D-Bill CMB	(912796YR4) 2.72%
20-Jul	1300ET	$14B	20Y Bond R/O	(912810TH1) 3.420% vs. 3.447% WI
21-Jul	1130ET	$55B	4W-Bill	(912796XN4)
21-Jul	1130ET	$50B	8W-Bill	(912796XW4)
21-Jul	1300ET	$17B	10Y TIPS	(91282CEZ0)
25-Jul	1130ET	TBA	13W-Bill	(912796V71)
25-Jul	1130ET	TBA	26W-Bill	(912796S34)
25-Jul	1300ET	TBA	2Y Note	(91282CFA4)
26-Jul	1300ET	TBA	5Y Note	(91282CFB2)
27-Jul	1300ET	TBA	2Y Note FRN	(91282CFD8)
28-Jul	1300ET	TBA	7Y Note	(91282CFC0)
9-Aug	1300ET	TBA	3Y Note	3-Aug
10-Aug	1300ET	TBA	10Y Note	3-Aug
11-Aug	1300ET	TBA	30Y Bond	3-Aug
17-Aug	1300ET	TBA	20Y Bond	11-Aug
18-Aug	1300ET	TBA	30Y TIPS Re-open	11-Aug
23-Aug	1300ET	TBA	2Y Note	18-Aug
24-Aug	1130ET	TBA	2Y Note FRN	18-Aug
24-Aug	1300ET	TBA	5Y Note	18-Aug
25-Aug	1300ET	TBA	7Y Note	18-Aug
12-Sep	1130ET	TBA	3Y Note	8-Sep
12-Sep	1300ET	TBA	10Y Note re-open	8-Sep
13-Sep	1300ET	TBA	30Y Bond re-open	8-Sep
20-Sep	1300ET	TBA	20Y Bond re-open	15-Sep
22-Sep	1300ET	TBA	10Y TIPS re-open	15-Sep
26-Sep	1300ET	TBA	2Y Note	22-Sep
27-Sep	1300ET	TBA	5Y Note	22-Sep
28-Sep	1300ET	TBA	2Y FRN re-open	22-Sep
28-Sep	1300ET	TBA	7Y Note	22-Sep
11-Oct	1300ET	TBA	3Y Note	6-Oct
12-Oct	1300ET	TBA	10Y Note re-open	6-Oct
13-Oct	1300ET	TBA	30Y Bond re-open	6-Oct
19-Oct	1300ET	TBA	20Y Bond re-open	13-Oct
20-Oct	1300ET	TBA	5Y TIPS	13-Oct
25-Oct	1300ET	TBA	2Y Note	20-Oct
26-Oct	1130ET	TBA	2Y FRN	20-Oct
26-Oct	1300ET	TBA	5Y Note	20-Oct
27-Oct	1300ET	TBA	7Y Note	20-Oct