{"id":1473588,"date":"2024-06-26T17:27:25","date_gmt":"2024-06-26T21:27:25","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1473588"},"modified":"2024-06-26T17:27:25","modified_gmt":"2024-06-26T21:27:25","slug":"solid-5y-auction-stops-through-as-foreign-demand-jumps-to-4-month-high","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/solid-5y-auction-stops-through-as-foreign-demand-jumps-to-4-month-high\/1473588\/","title":{"rendered":"Solid 5Y Auction Stops Through As Foreign Demand Jumps To 4 Month High"},"content":{"rendered":"

Solid 5Y Auction Stops Through As Foreign Demand Jumps To 4 Month High<\/span><\/p>\n

\n

After yesterday’s solid 2Y auction stopped through with the best Bid to Cover in one year, moments ago the Treasury sold $70BN in 5Y paper in another very strong auction.<\/p>\n

The high yield of 4.331% stopped through the When Issued 4.335% by 0.4bps, the third consecutive stop through in a row, and also the lowest high yield since the 4.235% in march.<\/p>\n

The bid to cover rose to 2.35 from last month’s 2.30, but it was still well below the six-auction average of 2.39 and was the second lowest this year.<\/p>\n

The internals were more remarkable: Indirects took down 68.9% which was the highest portion going to foreign buyers since the 70.5% in march; it was also above the 66.0% recent average. And with Directs taking down 17.7%, up from 15.4% last month and just above the 17.5% average, Dealers were left with just 13.4% of the auction, the second lowest since September with just March below today’s print.<\/p>\n

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

Overall, this was a solid auction if not stellar, and while yields did drop about 1basis point in the secondary market after the break, the 10Y was still near session highs, rising to 4.30%, up about 7bps from yesterday’s close.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 06\/26\/2024 – 13:27<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/solid-5y-auction-stops-through-foreign-demand-jumps-4-month-high<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Solid 5Y Auction Stops Through As Foreign Demand Jumps To 4 Month High After yesterday’s solid 2Y auction stopped through with the best Bid to…<\/p>\n","protected":false},"author":0,"featured_media":1473589,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1473588","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\/1473588","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=1473588"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1473588\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1473589"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1473588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1473588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1473588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}