Auction History: US Treasury will sell USD 16bln of 20yr bonds, settling 2nd March, at 18:00GMT/13:00EST
The upcoming US Treasury auction of $16 billion in 20-year bonds could be pivotal given recent auction performance metrics.
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Auction History: US Treasury will sell USD 16bln of 20yr bonds, settling 2nd March, at 18:00GMT/13:00EST
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US 20YR BOND AUCTION RECENT HISTORY:
- High Yield: (prev. 4.846%, six-auction avg. 4.724%)
- Tail: (prev. -1.0bps, six-auction avg. -0.4bps)
- Bid-to-Cover: (prev. 2.86x, six-auction avg. 2.66x)
- Dealers: (prev. 6.2%, six-auction avg. 10.1%)
- Directs: (prev. 29.1%, six-auction avg. 26.9%)
- Indirects: (prev. 64.7%, six-auction avg. 63.0%)
The high yield is slightly elevated compared to the six-auction average, indicating market caution, while a strong bid-to-cover ratio suggests decent demand, which may support bonds amid fluctuating yields. Traders should monitor the auction for shifts in demand dynamics that could influence broader interest rate sentiment and the yield curve.
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