Treasury Auction for the Week of September 20, 2010

The US Treasury Department auctions the following Treasury securities this week.

Monday September 20, 2010

• 13-week bill: $29 billion
• 26-week bill: $29 billion

Tuesday September 21, 2010

• 4-week bill: $25 billion
• 52-week bill: $25 billion

Wednesday September 22, 2010

• 56-day CMB* for SFP*: $25 billion

Total for the week: $133 billion

• Bills: $133 billion

Federal Reserve Permanent Open Market Operation Schedule September 15 - October 6

The Federal Reserve plans to buy $27 billion Treasury securities, up $9 billion from the last operation period (August 17 - September 13).

OT: US Treasury 10-Year Note Price vs S&P500 Index

There are analysts and traders who watch the positive correlation between S&P500 index and 10-year Treasury note yield. They point out to the most recent divergence where the 10-year note yield continues to go down without S&P500 following suit, and draw a conclusion that the stock market is just about to follow the 10-year note yield and that means a major market crash yet again. (Here's the chart by Karl Denninger today as one such example.)


However, when one compares S&P500 index and 10-year Treasury note price (which generally have the negative correlation with each other), the divergence doesn't seem that striking.


People tend to see what they want to see, much like a Rorschach test.

Treasury Auction for the Week of August 23, 2010

The US Treasury Department will auction the following Treasury securities this week.

Monday August 23, 2010

• 13-week bill: $30 billion (same as last week)
• 26-week bill: $30 billion (same as last week)

Tuesday August 24, 2010

• 4-week bill: TBA (last week $34 billion)
• 52-week bill: $25 billion (same as last month)
• 2-year note: $37 billion ($1 billion less than last month)

Wednesday August 25, 2010

• 56-day CMB* for SFP*: TBA (last week $25 billion)
• 5-year note: $36 billion ($1 billion less than last month)

Thursday August 26, 2010

• 7-year note: $29 billion (same as last month)

Total for the week: $187 billion

• Bills: $85 billion (without 4-week bill and 56-day CMB)
• Notes: $102 billion

Federal Reserve Permanent Open Market Operation Schedule

The Federal Reserve plans to buy $18 billion Treasury securities with these operations.

Treasury Auction for the Week of August 9, 2010 (Updated with Results)

The US Treasury Department will auction the following Treasury securities this week.

Monday August 9, 2010

• 13-week bill: $30 billion (same as last week)
• 26-week bill: $30 billion (same as last week)

Tuesday August 10, 2010

• 4-week bill: TBA (last week $31 billion)
• 3-year note: $34 billion ($1 billion less than last month)

Wednesday August 11, 2010

• 56-day CMB* for SFP*: $25 billion (same as last week)
  
  Primary Dealer: $15.08 billion (60.3%; last week 63.8%)
  Direct Bidder: $4.73 billion (18.9%; last week 17.8%)
  Indirect Bidder: $5.20 billion (20.8%; last week 18.3%)
  Bid to Cover Ratio: 4.95 (last week 4.64)
  Investment Rate: 0.137% (last week 0.162%)
  High Rate: 0.135% (allotted at high: 80.85%)
  
• 10-year note: $24 billion (same as the last original issue in May 2010)
  
  Primary Dealer: $10.38 billion (43.3%; last original issue 33%)
  Direct Bidder: $2.53 billion (10.5%; last original issue 24.8%)
  Indirect Bidder: $10.92 billion (45.5%; last original issue 41.6%)
  Bid to Cover Ratio: 3.04 (last original issue 2.96)
  Interest Rate: 2.625% (last original issue 3.500%)
  High Yield: 2.730% (allotted at high: 10.57%)
  
  In addition, SOMA purchased $1.44 billion 10-year note.

Thursday August 12, 2010

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

Total for the week: $134 billion

• Bills: $60 billion (without 4-week bill and 56-day CMB)
• Notes and bonds: $74 billion

Total for August 2010 so far: $116 billion

• Bills: $116 billion

Treasury Auction for the Week of July 26, 2010

The US Treasury Department will auction the following Treasury securities for the week of July 26, 2010.

The trend continues, of decreased amount raised via the auctions of notes (Treasury securities with maturities longer than one year).

Monday July 26, 2010

• 13-week bill: $30 billion (same as last week)
• 26-week bill: $30 billion (same as last week)

Tuesday July 27, 2010

• 4-week bill: TBA (last week $32 billion)
• 52-weel bill: $25 billion (same as last month)
• 2-year note: $38 billion ($2 billion less than last month)

Wednesday July 28, 2010

• 56-day CMB* under SFP*: TBA (last week $25 billion)
• 5-year note: $37 billion ($1 billion less than last month)

Thursday July 29, 2010

• 7-year note: $29 billion ($1 billion less than last month)

Total for the week: $189 billion (without 4-week bill and 56-day CMB)

• Bills: $85 billion (without 4-week bill and 56-day CMB)
• Notes: $104 billion

Total for July 2010 so far: $436 billion

• Bills: $355 billion
• Notes and bonds: $81 billion

Additional purchase by SOMA for July 2010 so far: $12.898 billion

• Bills: $12.49 billion
• Notes and bonds: $408 million