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Treasury
US 30-Year Auction High Yield Rises From Previous Month, Demand Lower
The US Treasury's 30-year auction hit a high yield of 5.046% on Wednesday, above the 4.876% high in the previous auction.The bid to cover ratio for the auction was 2.30, below the 2.39 ratio in the previous auction.Dealers represented 53.73% of the bids, with direct bidders at 11.77% and indirect bidders at 34.50%.For takedown, dealers took 11.66%, with direct bidders at 21.74% and indirect bidders at 66.60%.
Treasury
Update: Market Chatter: Wells Fargo Offering Investment-Grade Bonds
(Updates with Wells Fargo declines to comment in the last paragraph.)Wells Fargo (WFC) is marketing investment-grade bonds in as many as three parts, with maturities between three and six years, Bloomberg reported Wednesday, citing a person familiar with the matter.The longest-maturity bond is being offered with a spread of about 1 percentage point above US Treasuries, the report said, adding proceeds are for general corporate purposes.Wells Fargo declined to comment to.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $73.61, Change: $-1.57, Percent Change: -2.09%
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Treasury
Daiwa Comments on Wednesday's Eurozone Government Bonds, U.K. Gilts
German Bunds ended Wednesday little changed amid mixed European Central Bank commentary about a potential June rate hike, confirmation of soft eurozone gross domestic product and employment growth and a sharp contraction in industrial production in Q1, said Daiwa Capital Markets.Gilts partially reversed recent losses, despite rumors of an imminent challenge to British Prime Minister Keir Starmer's leadership, noted the bank.
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