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Bonds readying to advance?
- Thread starter gharghur2
- Start date
Data Flash! 5-Year Note ... Light Demand
Stone & McCarthy (Princeton) -- The 5-year note auction stopped right at the 100pm bid side, but saw light demand. The indirect bid was also quite low, coming in at the lightest since August of last year.
The auction stopped at 3.370%. The WI was bid at 4.370% as of the 1:00pm bidding deadline. 26.13% of bids at the high yield were accepted. The issue will have a 4 1/4% coupon.
The bid cover was low at 2.10, relative to an average of 2.50 over the prior twelve 5-year note auctions. At 2.10, the bid/cover is the lowest since April of last year. Non-comps were low at $90 mln, relative to an average of $104 mln.
Stone & McCarthy (Princeton) -- The 5-year note auction stopped right at the 100pm bid side, but saw light demand. The indirect bid was also quite low, coming in at the lightest since August of last year.
The auction stopped at 3.370%. The WI was bid at 4.370% as of the 1:00pm bidding deadline. 26.13% of bids at the high yield were accepted. The issue will have a 4 1/4% coupon.
The bid cover was low at 2.10, relative to an average of 2.50 over the prior twelve 5-year note auctions. At 2.10, the bid/cover is the lowest since April of last year. Non-comps were low at $90 mln, relative to an average of $104 mln.