Thursday, January 14, 2010

Treasury Auction Result for 1/14/2010

The U.S. Treasury Department auctioned the following Treasury securities today.

29-year 10-month bond (CUSIP 912810QD3, 2nd reopening, original issue November 2009): $13 billion (original issue Nov 09 $16 billion; 1st reopening Dec 09 $13 billion)

  • Primary Dealer: $7.06 billion
  • Indirect Bidder: $5.29 billion
  • Indirect Bidder Percentage: 40.7% (Dec 09: 40.1%; Nov 09: 43.9%)
  • Bid to Cover Ratio: 2.68 (Dec 09: 2.45; Nov 09: 2.26)
  • Interest Rate: 4.375%
  • High Yield: 4.640% (allotted at high: 27.21%)
    (Dec 09 high yield: 4.520%; Nov 09: 4.469%)
In addition, SOMA* purchased $505 million 29-year 10-month bond.

Total for the week so far: $169 billion

  • Bills: $85 billion
  • Notes and bonds: $84 billion
Total for January 2010 so far: $236 billion
  • Bills: $152 billion
  • Notes and bonds: $84 billion

Additional purchase by SOMA* for January 2010 so far: $5.678 billion

  • Bills: $2.42 billion
  • Notes and bonds: $3.258 billion

* For details, scroll down to the bottom of page.

at 10:03 PM 0 comments  

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Wednesday, January 13, 2010

Treasury Auction Result for 1/13/2010

The U.S. Treasury Department auctioned the following Treasury securities today.

9-year 10-month note (2nd reopening, original issue November 2009): $21 billion
(original issue Nov 09 $25 billion; 1st reopening Dec 09 $21 billion)

  • Primary Dealer: $11.18 billion
  • Indirect Bidder: $6.05 billion
  • Indirect Bidder Percentage: 28.8%(Dec 09: 34.8%; Nov 09: 46.9%)
  • Bid to Cover Ratio: 3.00 (Dec 09: 2.62; Nov 09: 2.81)
  • Interest Rate: 3.375%
  • High Yield: 3.754% (allotted at high: 49.95%)
    (Dec 09 high yield: 3.448%; Nov 09: 3.470%)
In addition, SOMA* purchased $815 million 9-year 10-month note.

Total for the week so far: $156 billion

  • Bills: $85 billion
  • Notes and bonds: $71 billion
Total for January 2010 so far: $223 billion
  • Bills: $152 billion
  • Notes and bonds: $71 billion

Additional purchase by SOMA* for January 2010 so far: $5.173 billion

  • Bills: $2.42 billion
  • Notes and bonds: $2.753 billion

* For details, scroll down to the bottom of page.

at 10:58 AM 0 comments  

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Tuesday, January 12, 2010

Treasury Auction Result for 1/12/2010

The U.S. Treasury Department auctioned the following Treasury securities today.

4-week bill: $10 billion (last week $16 billion)

  • Primary Dealer: $6.89 billion
  • Indirect Bidder: $2.49 billion
  • Indirect Bidder Percentage: 24.9% (last week 54.3%)
  • Bid to Cover Ratio: 6.63 (last week 5.50)
  • Investment Rate: 0% (last week 0.025%)
  • High Rate: 0% (allotted at high: 28.08%)

52-week bill: $26 billion (last month $27 billion)

  • Primary Dealer: $10.27 billion
  • Indirect Bidder: $13.79 billion
  • Indirect Bidder Percentage: 53% (last month 38.9%)
  • Bid to Cover Ratio: 3.63 (last month 3.08)
  • Investment Rate: 0.341% (last month 0.417%)
  • High Rate: 0.335% (allotted at high: 89.23%) (last month high rate 0.410%)

3-year note: $40 billion (last month $40 billion)

  • Primary Dealer: $14.41 billion
  • Indirect Bidder: $15.17 billion
  • Indirect Bidder Percentage: 37.9% (last month 60.6%)
  • Bid to Cover Ratio: 2.98 (last month 2.98)
  • Interest Rate: 1.375% (last month 1.125%)
  • High Yield: 1.490% (allotted at high: 79.20%) (last month high yield: 1.223%)
In addition, SOMA* purchased $1.55 billion 3-year note.

Total for the week so far: $135 billion

  • Bills: $85 billion
  • Notes and bonds: $50 billion
Total for January 2010 so far: $202 billion
  • Bills: $152 billion
  • Notes and bonds: $50 billion

Additional purchase by SOMA* for January 2010 so far: $4.358 billion

  • Bills: $2.42 billion
  • Notes and bonds: $1.938 billion

* For details, scroll down to the bottom of page.

at 11:00 AM 0 comments  

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Monday, January 11, 2010

Treasury Auction Result for 1/11/2010

The U.S. Treasury Department auctioned the following Treasury securities today.

13-week bill: $24 billion (last week $25 billion)

  • Primary Dealer: $14.04 billion
  • Indirect Bidder: $5.52 billion
  • Indirect Bidder Percentage: 23% (last week 40.1%)
  • Bid to Cover Ratio: 4.09 (last week 4.34)
  • Investment Rate: 0.041% (last week 0.081%)
  • High Rate: 0.040% (allotted at high: 17.72%)

26-week bill: $25 billion (last week $26 billion)

  • Primary Dealer: $14.21 billion
  • Indirect Bidder: $6.96 billion
  • Indirect Bidder Percentage: 27.8% (last week 59.3%)
  • Bid to Cover Ratio: 4.11 (last week 4.20)
  • Investment Rate: 0.132% (last week 0.183%)
  • High Rate: 0.130% (allotted at high: 55.07%)

10-year TIPS: $10 billion

  • Primary Dealer: $5.46 billion
  • Indirect Bidder: $3.96 billion
  • Indirect Bidder Percentage: 39.6% (July 09: 48%)
  • Bid to Cover Ratio: 2.65 (July 09: 2.51)
  • Interest Rate: 1.375% (July 09: 1.875%)
  • High Yield: 1.430% (allotted at high: 95.63%) (July 09 high yield: 1.920%)
In addition, SOMA* purchased $388 million 10-year TIPS.

Total for the week so far: $59 billion

  • Bills: $49 billion
  • Notes and bonds: $10 billion
Total for January 2010 so far: $126 billion
  • Bills: $116 billion
  • Notes and bonds: $10 billion

Additional purchase by SOMA* for January 2010 so far: $2.808 billion

  • Bills: $2.42 billion
  • Notes and bonds: $388 million

* For details, scroll down to the bottom of page.

at 11:00 AM 0 comments  

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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.

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