Little reaction in Tsy futures (FVZ5 at 109-20.75 -2.5) after an in-line $70B 5Y note auction (91282CPD7): 3.625% high yield vs. 3.625% WI; 2.38x bid-to-cover vs. 2.36x prior.
Peripheral stats: Indirect take-up rises to 66.84% from 59.42% prior, direct slips to 23.89% vs. 28.64% prior, while primary dealer take-up slips to 9.27% vs. 11.94% prior.
The next 2Y auction is tentatively scheduled for November 25.
FED: US TSY 13W BILL AUCTION: HIGH 3.730%(ALLOT 74.30%)
Oct-27 17:02
US TSY 13W BILL AUCTION: HIGH 3.730%(ALLOT 74.30%)
US TSY 13W BILL AUCTION: DEALERS TAKE 25.09% OF COMPETITIVES
US TSY 13W BILL AUCTION: DIRECTS TAKE 5.22% OF COMPETITIVES
US TSY 13W BILL AUCTION: INDIRECTS TAKE 69.70% OF COMPETITIVES
US TSY 13W BILL AUCTION: BID/CVR 3.07
FED: US TSY 5Y NOTE AUCTION: HIGH YLD 3.625%; ALLOTMENT 40.30%
Oct-27 17:02
US TSY 5Y NOTE AUCTION: HIGH YLD 3.625%; ALLOTMENT 40.30%
US TSY 5Y NOTE AUCTION: DEALERS TAKE 9.27% OF COMPETITIVES
US TSY 5Y NOTE AUCTION: DIRECTS TAKE 23.89% OF COMPETITIVES
US TSY 5Y NOTE AUCTION: INDIRECTS TAKE 66.84% OF COMPETITIVES