What time is the 30 yr auction happening today?

The bonds to be sold today yielded 4.54 percent in pre- auction trading, 14 basis points below the last 30-year bond the government sold. A basis points is 0.01 percentage point. The 5 3/8 percent bond maturing in February 2031 fell about 1/16, or 63 cents per $1,000 face amount, to 110 7/32 at 10:33 a.m. in New York, according to bond broker Cantor Fitzgerald LP.

Source: Bloomberg
 
http://wwws.publicdebt.treas.gov/AI/pdf/ofn0209061.pdf


PUBLIC DEBT NEWS
Department of the Treasury • Bureau of the Public Debt • Washington, DC 20239
TREASURY SECURITY AUCTION RESULTS
BUREAU OF THE PUBLIC DEBT - WASHINGTON DC
FOR IMMEDIATE RELEASE CONTACT: Office of Financing
February 09, 2006 202-504-3550
RESULTS OF TREASURY'S AUCTION OF 30-YEAR BONDS
Interest Rate: 4 1/2% Issue Date: February 15, 2006
Series: Dated Date: February 15, 2006
CUSIP No: 912810FT0 Maturity Date: February 15, 2036
High Yield: 4.530% Price: 99.510492
All noncompetitive and successful competitive bidders were awarded
securities at the high yield. Tenders at the high yield were
allotted 51.17%. All tenders at lower yields were accepted in full.
AMOUNTS TENDERED AND ACCEPTED (in thousands)
Tender Type Tendered Accepted
----------- ----------------- -----------------
Competitive $ 28,581,626 $ 13,861,288
Noncompetitive 38,776 38,776
FIMA (noncompetitive) 100,000 100,000
----------------- -----------------
SUBTOTAL 28,720,402 14,000,064 1/
Federal Reserve 841,266 841,266
----------------- -----------------
TOTAL $ 29,561,668 $ 14,841,330
Median yield 4.490%: 50% of the amount of accepted competitive tenders
was tendered at or below that rate. Low yield 4.475%: 5% of the amount
of accepted competitive tenders was tendered at or below that rate.
Bid-to-Cover Ratio = 28,720,402 / 14,000,064 = 2.05
1/
Awards to TREASURY DIRECT = $8,218,000
http://www.publicdebt.treas.gov
 
Stone & McCarthy (Princeton) -- The 30-year bond auction saw a particularly aggressive bid, stopping well through the 100pm bid side with a pretty good bid cover.
The auction stopped at 4.530%. The WI was bid at 4.580% as of the 1:00pm bidding deadline. 51.17% of bids at the high yield were accepted. The issue will have a 4 1/2% coupon.

The bid cover appeared solid given the size of the auction at 2.05. Non-comps were $38.776 mln It's been quite some time since we last had a bond auction, making comparisons difficult. Strictly speaking, this is also the largest 30-year bond auction in the Treasury's history.
 
Quote from Surdo:

Stone & McCarthy (Princeton) -- The 30-year bond auction saw a particularly aggressive bid, stopping well through the 100pm bid side with a pretty good bid cover.
The auction stopped at 4.530%. The WI was bid at 4.580% as of the 1:00pm bidding deadline. 51.17% of bids at the high yield were accepted. The issue will have a 4 1/2% coupon.

The bid cover appeared solid given the size of the auction at 2.05. Non-comps were $38.776 mln It's been quite some time since we last had a bond auction, making comparisons difficult. Strictly speaking, this is also the largest 30-year bond auction in the Treasury's history.

Was it really the largest ever?
 
Largest, According to Stone & McCarthy.

Shorts seemed to have scrambled to cover quickly.
A close above 113 is needed to continue this mini rally.
Tough read, feels like we have another leg down.
 
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