2Y and 4W Auction Results

26 Apr

Today began the auction cycle in the short to mid end of the curve and the reaction was somewhat decent today. With lower yields, undoutedly Treasury is catching a small break here despite forecasts (and a warning) to the contrary.

2Y Auction: Yield 0.673 vs. 0.789 prev (3/28), Indirects: 37.86 vs. 32.97, BTC 3.06 vs. 3.16, Coupon 0.625 vs. 0.75

4WK Auction: Yield 0.03 (unch vs. 4.19), Indirects: 19.95 vs. 27.16, BTC 4.77 vs. 4.35, Coupon 0.03 (unch)

Special Note

Tomorrow’s 5Y auction happens a bit earlier in the day, tenders for noncompetitive bids are due at 11:00AM and competitive tenders are due at 11:30AM. The results will be out shortly after 11:30.

Here’s our updated historical auction stats and calendar [GDocs]


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