{"id":1471885,"date":"2024-06-18T17:22:42","date_gmt":"2024-06-18T21:22:42","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1471885"},"modified":"2024-06-18T17:22:42","modified_gmt":"2024-06-18T21:22:42","slug":"record-demand-for-stellar-20y-auction","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/record-demand-for-stellar-20y-auction\/1471885\/","title":{"rendered":"Record Demand For Stellar 20Y Auction"},"content":{"rendered":"<p><span class=\"field field--name-title field--type-string field--label-hidden\">Record Demand For Stellar 20Y Auction<\/span><\/p>\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>After stellar 10Y and 30Y auctions last week, moments ago the Treasury sold its sole coupon auction for the week when it placed $13BN in a 20Y paper (technically the 19-Y 11-M reopening of Cusip UB2). <strong>The auction was met with no less than record demand, with metrics off the charts in virtually every category.<\/strong><\/p>\n<p>Starting at the top, the high yield of 4.452% was below last month&#8217;s 4.635% and the lowest since January&#8217;s 4.423%. This was a whopping 2.8bps stop through to the 4.452% When Issued, which was the biggest stop through since Nov 22 and the third highest on record!<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/20Y%20stop%20through.jpg?itok=lqbJs12C\"><\/a><\/p>\n<p>The bid to cover jumped to 2.74 from 2.51, and well above the six-auction average of 2.60 if nowhere close to the highest on record which was 2.87 exactly one year ago.<\/p>\n<p>But if the BTC was so-so, the internals were stellar, with Indirects taking down 77.9%, which was the second highest on record with just the 78.0% in July 2022 higher. And with Directs awarded 16.3%, Dealers were left holding only 5.3% of the final auction, a record low for the tenor.<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/20Y%20June%202024_0.jpg?itok=UV8L-KXJ\"><\/a><\/p>\n<p>The market reaction was swift with 10Y yields promptly dumping to a three day low of 4.20% before reversing the gain and trading just off session lows.<\/p>\n<\/div>\n<p>      <span class=\"field field--name-uid field--type-entity-reference field--label-hidden\"><a title=\"View user profile.\" href=\"https:\/\/cms.zerohedge.com\/users\/tyler-durden\" class=\"username\">Tyler Durden<\/a><\/span><br \/>\n<span class=\"field field--name-created field--type-created field--label-hidden\">Tue, 06\/18\/2024 &#8211; 13:22<\/span><\/p>\n<p>\u200b<a href=\"https:\/\/www.zerohedge.com\/markets\/record-demand-stellar-20y-auction\" target=\"_blank\" class=\"\" rel=\"noopener\">https:\/\/www.zerohedge.com\/markets\/record-demand-stellar-20y-auction<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Record Demand For Stellar 20Y Auction After stellar 10Y and 30Y auctions last week, moments ago the Treasury sold its sole coupon auction for the&#8230;<\/p>\n","protected":false},"author":0,"featured_media":1471886,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1471885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1471885","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=1471885"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1471885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1471886"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1471885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1471885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1471885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}