{"id":1450133,"date":"2024-01-11T18:22:37","date_gmt":"2024-01-11T23:22:37","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1450133"},"modified":"2024-01-11T18:22:37","modified_gmt":"2024-01-11T23:22:37","slug":"impressive-30y-auction-sees-solid-foreign-demand-no-tail","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/impressive-30y-auction-sees-solid-foreign-demand-no-tail\/1450133\/","title":{"rendered":"Impressive 30Y Auction Sees Solid Foreign Demand, No Tail"},"content":{"rendered":"

Impressive 30Y Auction Sees Solid Foreign Demand, No Tail<\/span><\/p>\n

\n

After yesterday’s mediocre 10Y auction, which in turn followed a stellar 3Y, moments ago we also got the first sale of long duration when the Treasury auctioned off $21BN in a 29-Y, 10-Month reopening. The 30Y auction was solid and went off without a glitch: it stopped at a high yield of 4.229%, down from 4.344% in December and the lowest since August. It also stopped through the 4.230% by a paltry 0.1 basis point, the smallest possible margin; this was the second consecutive tail for the tenor and followed 5 prior tails.<\/p>\n

The bid to cover was 2.37, down from 2.43 but right on top of the six-auction average 2.39%.<\/p>\n

The internals were even stronger with Indirects awarded 67.8% on behalf of foreign buyers; and with Directs awarded 17.7%, Dealers were left holding on to 14.5% of the auction, the smallest since August 2023.<\/p>\n

<\/a><\/p>\n

Overall, this was a solid auction, perhaps thanks to the modest post-CPI concession which moved the entire yield curve wider, and the market reaction was subdued with 10Y yields trading around 4.03% both before and after the auction results were announced. The question is when does the market realize that there is a near record $2 trillion in duration coming just around the corner<\/a>, <\/strong>and when do bond buyers stage another strike.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 01\/11\/2024 – 13:22<\/span><\/p>\n

\u200bRead More<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Impressive 30Y Auction Sees Solid Foreign Demand, No Tail After yesterday’s mediocre 10Y auction, which in turn followed a stellar 3Y, moments ago we also…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1450133","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1450133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1450133"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1450133\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1450133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1450133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1450133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}