EM LATAM CREDIT: Hidrovias (HIDRVS; B1neg/NR/BB-neg): Capital Raise

MNI interviews former top Fed staffer Bill English on the U.S. and Fed outlook -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com

• +6,700 SFRZ5 96.235, post time offer at 1220:01ET, trades 96.235 last (+0.0)

Tsy futures are trading mildly higher in 2s-10s ahead of the $13B 20Y bond auction re-open (912810UJ5) at 1300ET, WI is currently at 4.646%, 18.4bp rich to last month's tail. Today's results will be available shortly after the competitive auctions closes at 1300ET.

• February auction recap: The $16B 20Y Bond new issue auction was slightly weak, with a 1bp tail on a 4.830% high yield vs 4.820% when-issued yield.
• Peripheral stats were on the soft side: bid-cover of 2.43x was the lowest in 4 auctions (2.54x 5-auction average), with primary dealers taking down 17.5% of competitives (16.8% 5-auction average). Directs took 19.5% (16.4% 5-auction average) with indirects taking 63.0% (66.8% 5-auction average).
• From another perspective, it was much weaker result than January's unusually strong auction, and the 5th tail in the last 6 auctions.
• Treasury futures edged very slightly lower on the result, with front TYs down 0.5 ticks at 108-24.5.