US sells USD 22bln 30yr Bonds; stop-through 0.9bps

Analysis details (18:13)

Overall a decent auction. The 0.9bps stop through is a strong sign of demand in comparison to the average tail of 1.4bps and the prior 0.9bp tail. Bid-to-cover was also stronger than average. The demand was mainly seen in indirects (foreign buyers) which rose to 69.66% which helped offset the weaker direct (domestic) demand for the 30yr bond. The strong take up from indirect bidders helped dealers (forced buyers) take home less than the prior 30yr auction and less than the six auction average. 

12 May 2022 - 18:02- Fixed IncomeImportant- Source: Newswires

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