Auction History: US To sell USD 30bln of 2-year FRNS at 16:30BST/11:30EDT
The upcoming auction of USD 30 billion in 2-year FRNs is marked by a high discount margin, suggesting strong pricing dynamics relative to previous auctions, which may resonate positively among investors.
Newsquawk Daily US Conference Calendar - 29th April 2026: MCHP
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Auction History: US To sell USD 30bln of 2-year FRNS at 16:30BST/11:30EDT
US President Trump says he is very certain that the cherished bond between US and UK will continue long into the future
US President Trump says Americans have no closer friends than the British
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- High Discount Margin: (prev. 0.12%, six-auction average 0.14%)
- B/C: (prev. 2.78x, six-auction average 3.23x)
- Dealer: (prev. 49.09%, six-auction average 37.25%)
- Direct: (prev. 0.00%, six-auction average 0.61%)
- Indirect: (prev. 50.91%, six-auction average 62.14%)
However, the bid-to-cover ratio (B/C) has dipped compared to recent averages, indicating potentially weaker demand, particularly from indirect bidders. This could signal varying appetite for risk and may impact interest rates and the broader fixed income market as traders gauge the auction's reception and implications for future monetary policy.
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