Auction Preview: US to sell USD 69bln of 2yr notes at 18:00BST/13:00EDT
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Auction History 2-year Tail: (prev. -0.4bps, six-auction average 0.1bps) High Yield: (prev. 4.204%, six-auction average 4.088%) B/C: (prev. 2.60x, six-auction average 2.61x) Dealer: (prev. 10.9%, six-auction average 13.1%) Direct: (prev. 23.1%, six-auction average 28.3%) Indirect: (prev. 66.0%, six-auction average 58.6%) Primer The US Treasury will sell USD 69bln of 2yr notes on September 22nd, USD 70bln of 5yr notes on September 23rd, and USD 44bln of 7yr notes on September 24th; all to settle September 30th. This week's auctions come amid a relatively light US data calendar and with the FOMC now in the rear-view mirror. On a broader macro level, Xi will be visiting the US, potentially providing updates on US/China trade, while the UN General Assembly is taking place, where participants will be looking for further information on Trump's next steps regarding Iran. Nonetheless, with little economic data due and the Fed decision behind us, event risk surrounding this week's auctions is l
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