- Yield 1.624% vs. Exp. 1.618%; WI stopped at 1.620%
- B/C 2.38 vs. Avg. 2.66 (Prev.2.46)
- Indirects 40.3% vs. Avg. 48.0% (Prev. 53.9%)
- Dealers 46.93% vs. Avg. 38.7% (Prev. 37.8%)
- Allotted at high 91.92%
Reaction details (12:06)
- In an immediate reaction 5y note futures fell 2.25 ticks from 120.15+ to 120.1325.
Analysis details (07:42)
- This auction high falls on range for 7yr reopening.
- The auction itself was particularly lacklustre with the yield tailing by 4bps at the bidding deadline and lower bid/cover buy-side. Demand was below the previous and average although dealers took a larger chunk of the issuance than seen previously.
28 Aug 2013 - 12:01 - Fixed Income - Source: Newswires
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