Results of 3 Year Auction - biggest stop through since Aug 2023

[Nighthawk]

Pricing at a high yield of 4.105%, the lowest 3Y high yield stop since May 2023, the auction stopped through the When Issued 4.116% by 1.1bps, the biggest stop through since Aug 2023.
The bid to cover was 2.672, a solid jump from the 2.416 in December, the highest since September.
The internals were most impressive, with Indirects awarded 65.3%, a big jump from last month's 52.1%, the highest since August (well above the six-auction average of 62.3%). With Directs awarded 16.8%, Dealers were left holding 17.8%, right on top of the recent average of 17.7%.

Seems, a lot of players in DESPERATE NEED OF PAPER! I WONDER WHY? (/SARC)

 

[maxinger]

Pricing at a high yield of 4.105%, the lowest 3Y high yield stop since May 2023, the auction stopped through the When Issued 4.116% by 1.1bps, the biggest stop through since Aug 2023.
The bid to cover was 2.672, a solid jump from the 2.416 in December, the highest since September.
The internals were most impressive, with Indirects awarded 65.3%, a big jump from last month's 52.1%, the highest since August (well above the six-auction average of 62.3%). With Directs awarded 16.8%, Dealers were left holding 17.8%, right on top of the recent average of 17.7%.

Seems, a lot of players in DESPERATE NEED OF PAPER! I WONDER WHY? (/SARC)

Trivial news.

The US bonds/notes hardly move.
In fact, it hardly moved over the past one week.

 

[murray t turtle]

Pricing at a high yield of 4.105%, the lowest 3Y high yield stop since May 2023, the auction stopped through the When Issued 4.116% by 1.1bps, the biggest stop through since Aug 2023.
The bid to cover was 2.672, a solid jump from the 2.416 in December, the highest since September.
The internals were most impressive, with Indirects awarded 65.3%, a big jump from last month's 52.1%, the highest since August (well above the six-auction average of 62.3%). With Directs awarded 16.8%, Dealers were left holding 17.8%, right on top of the recent average of 17.7%.

Seems, a lot of players in DESPERATE NEED OF PAPER! I WONDER WHY? (/SARC)

%%
Don't know .
MAYBE some should have read our elite customer service thread.
A lot of people value that.