Solid 30Y Auction Stops Through Despite Drop In Foreign Demand
After two mixed coupon auctions this week, including a subpar 3Y and a strong 10Y, moments ago the Treasury concluded the week's coupon issuance when it sold $22BN in 30Y bonds in another solid auction.
The paper priced at a high yield of 4.871%, above the 4.750% in February and the highest since last July's 4.889%. It also stopped through the When Issued 4.878% by 0.7bps, the 4th consecutive stop through in a row.
The bid to cover was 2.452, down from 2.662 but above the recent average of 2.452.
The internals were a tad weaker, with Indirects buying 63.4% of the auction, down from 69.9% in February and below the six-auction average of 66.6%. Directs took down 27.2%, higher than the average 23.0%, and Dealers were left with 9.36%, up from last month's record low 5.88% but below the recent average 10.4%.
Overall, this was a solid if not stellar 30Y auction, which considering the mauling the long-end has been subjected to - note the 10Y is now trading at 4.24%, up sharply from 3.97% two weeks ago - it was a very respectable result.
Tyler Durden
Thu, 03/12/2026 - 13:21
The post <a href=https://www.zerohedge.com/markets/solid-30y-auction-stops-through-despite-drop-foreign-demand target=_blank >Solid 30Y Auction Stops Through Despite Drop In Foreign Demand</a> appeared first on Conservative Angle | Conservative Angle - Conservative News Clearing House
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