The U.S. Treasury conducted a successful auction of $39 billion in 10-year notes today, resulting in a yield of 4.438%, slightly lower than the 4.458% when-issued yield. The auction saw strong demand, with a bid-to-cover ratio of 2.67, the highest since February 2022. Indirect bidders took 74.6% of the offering, also the highest since February 2023. Dealer takedown was 11.59%, down from the previous 15.73%. The strong auction performance led to a decrease in yields, with Treasuries trading higher post-auction. Santelli graded it an A, and the auction went 2 bps through.
10 year bond auction was very strongly bid. Santelli graded it an A Yields plummeted on the news https://t.co/Tx2nHXAeML
10yr Auction Results: 2 bps through Bid-to-Cover 2.67 Best since Feb '22 Indirects 74.6% Best since Feb '23 Ultra-10s trading up 8 full ticks (1/32nds) https://t.co/pLeaPlopBI
10 Year Auction Bid-to-cover 2.67 vs 2.49 previous Dealer takedown: 11.59% vs 15.73% previous Very strong auction!
10 yr bond auction popping $TLT higher https://t.co/NVjfBYmK3I
10 year auction $39 billion at 4.438% vs 4.458% WI - Positive result, yields lower - Bid to Cover 2.67 $TLT $ZROZ $GOVZ
Nice 10y auction. 2 bps thru
$39B 10Y auction on deck - brace for volatility
Ten year bond auction result in about 8 minutes now. Surprised anyone still buying US debt.
10-year note auction today. TNX:CGI #ZN_F https://t.co/r26kNQlrU5
Treasury plans to sell $39 billion #10Y Notes today; the auction results will be announced just after noon CDT.
#TreasuriesToday: Yields lower by 2bp-4bp inside Monday's selloff ranges. New 3Y ~4.61% vs 4.659% auction stop. Supply cycle continues with $39b 10Y reopening (1st) at 1pm. WI yield 4.44% vs 4.483% result of last month's new-issue auction.