U.S. Treasuries closed the June quarter off Thursday rallying for the second consecutive day of strong gains across the curve. The 10-year yield has in recent weeks retreated from an end-of-day high of 3.482% reached on June 14 after mounting one of its fastest increases in history to start 2022. Thursday’s advance pressured the 10-yr yield back below its 50-day moving average (2.994%) to its lowest level in over three weeks. For the half year investment-grade bonds, as measured by … Continue reading “U.S. Treasury Bond Recap – Shorter Tenors Weakened Most in June as Growth Concerns Grew”
Weak Demand for U.S. 7-year Treasury Bond Auction With 3.280% High Yield and 2.1 bps Tail
Treasuries moved lower after the US Treasury 7-Year Bond Sale garnered a D- rating across the fixed Interest desk with weak demand from the international market. Indirects took down 61.9% compared to 77.9% previously. The tail was -2.1 basis points with WI level at time of the auction 2.801% and the high yield of 3.259% at the auction. This was another long tail, yesterday’s 10-year sale tailed by 3 bps, which was the most since 2010. Equity markets continued to … Continue reading “Weak Demand for U.S. 7-year Treasury Bond Auction With 3.280% High Yield and 2.1 bps Tail”
U.S. 20-year Treasury Bond Auction with High Yield of 3.488% on Lukewarm Demand
U.S. Treasuries held just below their best levels of the session in response to the recent completion of the $14 billion 20-year Treasury bond reopening, which was met with lukewarm demand. The 3- and 5-year notes trading slightly ahead of other tenors. The high yield tailed the when-issued yield by 0.2 bps with the bid-to-cover ratio and indirect takedown just above average. The desk gave a C rating on the auction. The S&P 500 and Nasdaq 100 are just below … Continue reading “U.S. 20-year Treasury Bond Auction with High Yield of 3.488% on Lukewarm Demand”
30-year Treasury Bond Auction Sees Stronger Demand than 10 and 3year Notes ahead of Hot CPI and PPI
The US Treasury 30-Year Bond Sale of $22 billion performed stronger than the recent dismal 3 and 10-year auctions ahead of tomorrow’s CPI report. The report followed the ECB meeting which sent European yields higher, with particular selling in the European peripherals such as Italy against the Bund. The tail was 1.5 basis points with WI level at time of the auction 3.20% and the high yield of 3.185% at the auction. The Fixed Interest desk rated it an B+ … Continue reading “30-year Treasury Bond Auction Sees Stronger Demand than 10 and 3year Notes ahead of Hot CPI and PPI”
Another Weak U.S. 10-year Treasury Bond Auction Graded D Minus with High Yield of 3.03% and 1.2 Basis Point Tail
The US Treasury 10-Year Bond Sale performed worse than expected ahead of a likely hot May CPI number released later in the week, garnering a D- rating across the Fixed Interest desk with weak demand from the international market. The tail was -1.2 basis points with WI level at time of the auction 3.018% and the high yield of 3.03% at the auction. Soft demand after yesterday’s $45 billion 3-yr note sale. The post-auction selling was heaviest in the long bond … Continue reading “Another Weak U.S. 10-year Treasury Bond Auction Graded D Minus with High Yield of 3.03% and 1.2 Basis Point Tail “
Treasuries Pull Back After Weak Demand for U.S. 3-year Bond Auction with High Yield of 2.927%
U.S. Treasuries pulled back from highs after the US Treasury 3-Year Bond Sale performed much worse than expected, garnering a D+ rating across the Fixed Interest desk with weak demand from the international market. The tail was -1 basis points with WI level at time of the auction 2.917% and the high yield of 2.927% at the auction. Weak demand ahead of the results of this month’s auctions of $33 billion worth of ten-year notes and $19 billion worth of … Continue reading “Treasuries Pull Back After Weak Demand for U.S. 3-year Bond Auction with High Yield of 2.927%”
Strong U.S. 7-year Treasury Bond Auction Gets A+ Rating on Higher International Demand
Treasuries have moved to their best levels of the day after the US Treasury 7-Year Bond Sale garnered a A+ rating across the fixed Interest desk with strong demand from the international market. The tail was -2.4 basis points with WI level at time of the auction 2.801% and the high yield of 2.777% at the auction. Equity markets have been recovering from last week’s plunge steadily. Today’s $42 bln 7-yr note -2.4 basis point is indicative of strong demand. … Continue reading “Strong U.S. 7-year Treasury Bond Auction Gets A+ Rating on Higher International Demand”
U.S. 5-year Treasury Bond Auction with High Yield of 2.736%
The US Treasury 5-Year Bond Sale performed weaker than expected, garnering a C- rating across the Fixed Interest desk with weaker demand from the international market. The tail was -.4 basis points with WI level at time of the auction 2.732% and the high yield of 2.736% at the auction. The domestic demand was above average reflected in the directs. The bid-to-cover ratio of 2.44x was below 6-month average 2.45x, as was indirect takedown 62.9% vs 63.9% average. The desk … Continue reading “U.S. 5-year Treasury Bond Auction with High Yield of 2.736%”
U.S. 20-year Treasury Bond Auction with High Yield of 3.29% on Higher International Demand
Treasuries have moved to their best levels of the day after the US Treasury 20-Year Bond Sale garnering a B- rating across the fixed Interest desk with strong demand from the international market. The tail was -1.4 basis points with WI level at time of the auction 2.665% and the high yield of 2.651% at the auction. The long bond maintaining its leadership with equity markets selling off. Today’s $17 bln 20-yr bond -0.2 basis point indicative of strong demand. … Continue reading “U.S. 20-year Treasury Bond Auction with High Yield of 3.29% on Higher International Demand”
Solid 30-year Treasury Bond Auction with High Yield of 2.997% Follows CPI and PPI
The US Treasury 30-Year Bond Sale of $22 billion performed stronger than the recent 3 and 10-year auction after today’s PPI report. The tail was 0.9 basis points with WI level at time of the auction 3.006% and the high yield of 2.997% at the auction. The Fixed Interest desk rated it an A after yesterday’s C- on the 10-year auction. The bid-to-cover ratio of 2.30x was below average 2.31x, as was indirect takedown 65.2% vs 65.8% average. The desk … Continue reading “Solid 30-year Treasury Bond Auction with High Yield of 2.997% Follows CPI and PPI”