10.3 C
London
Monday, December 11, 2023
HomeRecord-Breaking 20Y Treasury Auction Sends Yields Tumbling
Array

Record-Breaking 20Y Treasury Auction Sends Yields Tumbling

Date:

Related stories

Unemployment Rate. Turkey, 09:00 (GMT+2)

At 09:00 (GMT+2) October data on the Unemployment Rate will be published in Turkey. This indicator records all persons aged 15 years and older who were not employed during the reporting period, who used at least one of the job search channels in the la...

House Price Index from Rightmove Group Ltd. UK, 08:00 (GMT+2)

At 08:00 (GMT+2) in the UK, a House Price Index from the research company Rightmove Group Ltd. will be published, recording changes in the average cost of houses for sale. If in December it continues its negative trend from the current −1.3%, this coul...

Trauma Nation

Trauma Nation Authored by Todd Hayen via Off-Guardian.org, We now are all suffering from acute trauma, in a trauma nation. I would venture to say in a trauma world, but I am not certain of conditions in countries such as India, Indones...

Philippine President Vows to Defend Territory After Latest Maritime Clash

In two separate incidents over the weekend, Chinese vessels collided with and used water cannons against Philippine ships in contested parts of the South China Sea.

USA Is Not #1! These Are The Top-Performing Countries For Education

USA Is Not #1! These Are The Top-Performing Countries For Education Singapore has topped the latest world education ranking informally known as PISA, the Program for International Student Assessment, run by the OECD. The city-state’s pupil...
Record-Breaking 20Y Treasury Auction Sends Yields Tumbling

It's not as if the bond market needed another reason to send yields sharply lower after the BOJ last night, and the trifecta of recessionary prints today (huge misses in PPI, retail sales and industrial production) had already hammered yields, but it got it anyway moments ago when today's sale of $12BN in 20Y paper was nothing short of blockbuster with at least one new record set.

The high yield of 3.678% was not only sharply lower than last month's 3.935% and a far cry from the 4%+ auctions in October and November, but also stopped through the When Issued 2.705 by 2.7bps, tied for the third biggest stop through on record in the 20Y auction's history.

The bid to cover was even more remarkable: jumping from last month's 2.68, the January BTC was 2.83, the highest on record and above the previous all time high of 2.80 in April 2022.

The internals were also stellar with Indirects awarded 76.25% just shy of another all time high (hit in July 22 when it came at 78.0%) and with Directs awarded 15.6%, below the recent average of 17.2%, Dealers were left holding just 8.1%, which was also just shy of the record low 7.9% hit in July 2020.

Overall, this was a stellar, record-breaking  20Y auction, and no wonder why the 10Y yield dumped from 3.43% to 3.38% after news of the stellar demand for today's paper hit.

Tyler Durden Wed, 01/18/2023 - 13:23

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

LEAVE A REPLY

Please enter your comment!
Please enter your name here