10-yr fall?

Discussion in 'Trading' started by illiquid, May 8, 2003.

  1. Any news out? 10-yr dropped 1/2 a handle in about 2 seconds.


    God I need a news feed :)
     
  2. himself

    himself

    The Treasury's sale of the 10 year note was today,
    perhaps it was not so well received as had been expected.
     
  3. McCloud

    McCloud

    Economic calendar for 5/8:

    Preview of Thursday, May 8, 2003:


    a.m. Chain Store Sales, April

    8:30 a.m. Initial Claims, week ended May 3

    9:15 a.m. Chicago Fed President Moskow (voting FOMC member) gives opening remarks at the Chicago Fed’s annual Bank Structure Conference on “Corporate Governance: Implications for Financial Services Firms” in Chicago, IL.

    9:15 a.m. Fed Chairman Greenspan gives the keynote address at the Chicago Fed's annual Bank Structure Conference on “Corporate Governance: Implications for Financial Services Firms” in Chicago, IL.

    10:50 a.m. Fed Governor Bies speaks on a panel at the Chicago Fed's annual Bank Structure Conference on “Corporate Governance: Implications for Financial Services Firms” in Chicago, IL.

    1:00 p.m. 10-year Note Auction, size: $18 billion <------

    2:00 p.m. FOMC Minutes, March 18

    2:00 p.m. Treasury Secretary Snow testifies before the House subcommittee in Washington, D.C.

    2:45 p.m. Kansas City Fed President Hoenig and Minneapolis Fed President Stern (both non-voting FOMC members) speak on a panel on “Financial Services Regulatory and Legislative Items” at the Chicago Fed's annual Bank Structure Conference on “Corporate Governance: Implications for Financial Services Firms” in Chicago, IL.

    4:30 p.m. Money Supply, week of April 28
     
  4. himself

    himself

    From www.minyanville.com:

    "The auction results were lousy.

    The new issue was trading on a "when-issued" basis just before the auction at a yield of 3.63%. The auction came at a yield of 3.70%, a bigger miss (but in the opposite direction) from yesterday's five-year auction.

    The bid-to-cover ratio (a measure of the amount of bids relative to the amount being offered) was a low (i.e. lack of demand) 1.22. This appears to be the worst B/C ratio since at least 1994.

    The old 10-year was up a half-point in front of the auction, it lost all of that gain on the news."