Thursday, May 13, 2010

Treasury Auction Schedule for the Week of May 10, 2010 (Updated with Results)

The US Treasury Department auctions the following Treasury securities for the week of May 10, 2010.

Monday May 10, 2010

  • 13-week bill: $26 billion ($2 billion more than last week)

    Primary Dealer: $13.04 billion
    Indirect Bidder: $8.86 billion
    Indirect Bidder Percentage: 34.1% (last week 25.3%)
    Direct Bidder: $2.63 billion (10.1%; last week 11%)
    Bid to Cover Ratio: 4.44 (last week 4.55)
    Investment Rate: 0.157% (last week 0.167%)
    High Rate: 0.155% (allotted at high 74.21%)

  • 26-week bill: $26 billion ($1 billion more than last week)

    Primary Dealer: $9.99 billion
    Indirect Bidder: $11.57 billion
    Indirect Bidder Percentage:44.5% (last week 37.5%)
    Direct Bidder: $3.06 billion (11.8%; last week 12.4%)
    Bid to Cover Ratio: 4.35 (last week 4.32)
    Investment Rate: 0.233%(last week 0.249%)
    High Rate: 0.230% (allotted at high 18.25%)
Tuesday May 11, 2010
  • 4-week bill: $31 billion ($8 billion more than last week, $16 billion more than 2 weeks ago)

    Primary Dealer: $19.73 billion
    Indirect Bidder: $4.05 billion
    Indirect Bidder Percentage: 13.1% (last week 15.9%)
    Direct Bidder: $6.97 billion (22.5%; last week 22.2%)
    Bid to Cover Ratio: 4.22 (last week 4.82)
    Investment Rate: 0.152% (last week 0.152%)
    High Rate: 0.150% (allotted at high: 8.27%)

    In addition, SOMA* purchased $3.78 billion 4-week bill.

  • 3-year note: $38 billion ($2 billion less than last month)

    Primary Dealer: $12.36 billion
    Indirect Bidder: $19.17 billion
    Indirect Bidder Percentage: 50.4% (last month 52.2%)
    Direct Bidder: $6.25 billion (16.4%; last month 10.7%)
    Bid to Cover Ratio: 3.27 (last month 3.10)
    Interest Rate: 1.375% (last month 1.750%)
    High Yield: 1.414% (allotted at high 22.27%)

    In addition, SOMA purchased $3.31 billion 3-year note.
Wednesday May 12, 2010
  • 56-day CMB* (under SFP* to be used solely by the Federal Reserve; the 12th straight week of issuing CMB under SFP; the SFP account balance at the Federal Reserve is slightly below $200 billion): $25 billion

    Primary Dealer: $12.31 billion
    Indirect Bidder: $7.77 billion
    Indirect Bidder Percentage: 31% (last week 5.4%)
    Direct Bidder: $4.92 billion (19.7%; last week 25.4%)
    Bid to Cover Ratio: 4.64 (last week 4.47)
    Investment Rate: 0.152% (last week 0.152%)
    High Rate: 0.150% (allotted at high 8.42%)

  • 10-year note: $24 billion ($1 billion less than the last original issue in February 2010)

    Primary Dealer: $7.92 billion
    Indirect Bidder: $9.99 billion
    Indirect Bidder Percentage: 41.6% (last original issue 32.9%)
    Direct Bidder: $5.96 billion (24.8%; last original issue 12.9%)
    Bid to Cover Ratio: 2.96 (last original issue 2.67)
    Interest Rate: 3.500% (last original issue 3.625%)
    High Yield: 3.548% (allotted at high 94.55%)

    In addition, SOMA purchased $2.09 billion 10-year note.

Thursday May 13, 2010

  • 30-year bond: $16 billion (same as the last original issue in February 2010)

    Primary Dealer: $7.29 billion
    Indirect Bidder: $5.19 billion
    Indirect Bidder Percentage: 32.4% (last original issue 28.5%)
    Direct Bidder: $3.49 billion (21.8%; last original issue 24.1%)
    Bid to Cover Ratio: 2.60 (last original issue 2.36)
    Interest Rate: 4.375% (last original issue 4.625%)
    High Yield: 4.490% (allotted at high 72.22%)

    In addition, SOMA purchased $1.39 billion 30-year bond.
Total for the week: $186 billion
  • Bills: $108 billion
  • Notes and bonds: $78 billion

Total for May 2010 so far: $309 billion

  • Bills: $231 billion
  • Notes and Bonds: $78 billion

Additional purchase by SOMA for May 2010: $16.51 billion

  • Bills: $9.72 billion
  • Notes and bonds: $6.79 billion

at 8:05 PM  

Labels: , ,

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Terminology
SOMA System Open Market Account at the Federal Reserve New York Bank
Primary Dealer A bank or securities broker-dealer that may trade directly with the Federal Reserve System. Primary Dealers are required to bid at Treasury auctions. Current list of Primary Dealers is available at New york Fed.
Indirect Bidder Supposed to be the foreign investors, both foreign central banks and foreign private investors
Bid to Cover ratio The number of bids received divided by the number of bids accepted. The higher the ratio, the higher the demand.
Reopening The U.S. Treasury issues additional amounts of a previously issued security. The reopened security has the same maturity date and coupon interest rate as the original security, but with a different issue date and usually a different purchase price.
Cash Management Bill (CMB) A short-term security sold by the U.S. Department of the Treasury. The maturity on a CMB can range from a few days to six months. The money raised through these issues is used by the Treasury to meet any temporary shortfalls. CMBs tend to pay higher yields than bills with fixed maturities, but their shorter maturities lead to lower overall interest expense.
Supplementary Financing Program (SFP) A program initiated by the U.S. Treasury Department at the request of the Federal Reserve in September 17, 2008. The cash raised from the auction will be used in the various Federal Reserve initiatives to support the financial markets and manage its balance sheet.

  © Blogger template 'Fly Away' by Ourblogtemplates.com 2008 || Photo by elvis_payne "Money Laundering"

Back to TOP