Tsy futures are trading near early session lows ahead of the $58B 3Y note auction (91282CMN8) at 1300ET, WI is currently at 4.312%, 2bp rich to last month's auction.
- January auction recap: Treasury futures remain mostly weaker, off lows after $58B 3Y note auction (91282CMF5) draws 4.332% high yield vs. 4.320% WI; 2.62x bid-to-cover vs. 2.58x prior.
- Peripheral stats see indirect take-up slips to 60.98% vs. 64.18% prior; direct bidder take-up rebounds to 19.67% from 9.62% prior; primary dealer take-up rises to 19.36% vs. 15.11% prior.
- Timing today's 3Y note sale: results will be available shortly after the competitive auctions closes at 1300ET.