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12:40
08/07/18
08/07
12:40
08/07/18
12:40

Treasury 3-year auction preview

Treasury 3-year auction preview: the $34 B 3-year note might see a decent bid thanks to the concession today. The wi is down 2 bps to 2.765%. A stop there would be 8 bps cheap to the July sale, and would be the highest since May 2007. Higher rates haven't necessarily helped recent auctions, however. Additionally, a like 25 bp Fed rate hike in September and another perhaps in December are headwinds. Auction volumes have been on the rise too, given the growing budget deficit. Today's $34 B amount is the most since Augsut 2010, and more increases across the curve are on the way. Market positioning may support the sale, however -- the JPMorgan Treasury "active client" survey showed an increase in shorts to 40 from 20. But the note is not particularly tight in repo. And, there remains a very wide spread to foreign sovereigns, many of which still trade in negative territory, though indirect bidding has been mixed. The note offers a 323 bp yield pick up versus the equivalent German maturity. The July auction stopped at 2.685% and saw a 2.51 cover (2.88 average), which was the lowest since January 2009, while indirect bidders took 39.6% (51.3% average), which was the weakest since 2014. Direct bidders took 9.1% last month, with primary dealers accepting 51.3%.

TODAY'S FREE FLY STORIES

LAND

Gladstone Land

$12.29

0.39 (3.28%)

08:59
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08:59
Syndicate
Gladstone Land 1.1M share Spot Secondary priced at $11.73 »

Janney Montgomery Scott…

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  • 20

    Jun

HSY

Hershey

$137.94

-0.29 (-0.21%)

, K

Kellogg

$55.06

-0.44 (-0.79%)

08:59
06/20/19
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08:59
Downgrade
Hershey, Kellogg rating change  »

Piper downgrades Hershey…

HSY

Hershey

$137.94

-0.29 (-0.21%)

K

Kellogg

$55.06

-0.44 (-0.79%)

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TBRG

Thunder Bridge Acquisition

$10.38

-0.01 (-0.10%)

08:58
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Initiation
Thunder Bridge Acquisition initiated  »

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LODE

Comstock Mining

$0.19

-0.0009 (-0.48%)

08:58
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Hot Stocks
Comstock Mining advances realignment in regards to Lucerne properties »

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IGT

International Game

$13.35

-0.27 (-1.98%)

08:57
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08:57
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Conference/Events
International Game management to meet with SunTrust »

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  • 25

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    Jun

SHLO

Shiloh Industries

$4.92

-0.22 (-4.28%)

08:55
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08:55
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Conference/Events
House Energy & Commerce Committee to hold a hearing »

The Subcommittee on…

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TCO

Taubman Centers

$43.72

0.145 (0.33%)

08:55
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Recommendations
Taubman Centers analyst commentary  »

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BAC

Bank of America

$28.32

-0.31 (-1.08%)

, GGB

Gerdau

$3.84

0.075 (1.99%)

08:55
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08:55
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08:55
Options
Notable open interest changes for June 20th »

Wednesday's total…

BAC

Bank of America

$28.32

-0.31 (-1.08%)

GGB

Gerdau

$3.84

0.075 (1.99%)

ORCL

Oracle

$52.69

-0.19 (-0.36%)

NIO

NIO Inc.

$2.77

0.23 (9.06%)

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  • 17

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  • 06

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  • 07

    Aug

08:55
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Conference/Events
The Brookings Institution to hold a discussion »

U.S. Senator Chris Coons…

IAG

IAMGold

$3.01

0.05 (1.69%)

08:54
06/20/19
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08:54
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08:54
Periodicals
China National Gold working with advisors on IAMGold stake bid, Bloomberg says »

State-owned China…

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08:50
06/20/19
06/20
08:50
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08:50
General news
Initial claims fell 6k to 216k »

Initial claims fell 6k to…

BHC

Bausch Health

$22.89

0.455 (2.03%)

08:46
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06/20
08:46
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08:46
Recommendations
Bausch Health analyst commentary at Wells Fargo »

One of Bausch's key…

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HPE

HP Enterprise

$14.70

0.11 (0.75%)

08:45
06/20/19
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08:45
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Conference/Events
HP Enterprise management to meet with UBS »

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  • 25

    Jun

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  • 09

    Jul

SESN

Sesen Bio

$1.46

-0.39 (-21.08%)

, NEPT

Neptune Wellness

$4.40

-0.14 (-3.08%)

08:45
06/20/19
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08:45
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08:45
Options
Largest borrow rate increases among liquid names »

Latest data shows the…

SESN

Sesen Bio

$1.46

-0.39 (-21.08%)

NEPT

Neptune Wellness

$4.40

-0.14 (-3.08%)

CVE

Cenovus Energy

$8.76

-0.12 (-1.35%)

VKTX

Viking Therapeutics

$8.22

-0.13 (-1.56%)

ASHR

X-trackers Harvest CSI 300

$27.32

0.01 (0.04%)

RLGY

Realogy

$7.34

0.05 (0.69%)

PLAN

Anaplan

$51.05

0.355 (0.70%)

CVX

Chevron

$122.94

-0.01 (-0.01%)

TME

Tencent Music

$15.03

-0.08 (-0.53%)

TQQQ

ProShares UltraPro QQQ

$61.93

0.7 (1.14%)

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  • 25

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  • 19

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08:45
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08:45
General news
FX Action: The dollar »

FX Action: The dollar…

08:45
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08:45
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General news
U.S. Philly Fed index dropped 16.3 points to 0.3 in June »

U.S. Philly Fed index…

HMSY

HMS Holdings

$32.00

0.87 (2.79%)

08:42
06/20/19
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08:42
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08:42
Conference/Events
HMS Holdings management to meet with Oppenheimer »

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  • 25

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08:42
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Conference/Events
Jefferies technology analysts to hold an analyst/industry conference call »

Analysts, along with Alan…

08:40
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08:40
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General news
U.S. Q1 current account deficit narrowed to -$130.4 B »

U.S. Q1 current account…

08:40
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General news
U.S. initial jobless claims fell 6k to 216k »

U.S. initial jobless…

08:39
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08:39
Conference/Events
Cantor Fitzgerald healthcare analysts to hold analyst/industry conference call »

Analysts discuss Robotics…

ORCL

Oracle

$52.69

-0.19 (-0.36%)

08:38
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08:38
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08:38
Recommendations
Oracle analyst commentary  »

Oracle Q4 solid,…

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GTLS

Chart Industries

$70.98

-4.01 (-5.35%)

08:37
06/20/19
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08:37
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08:37
Conference/Events
Chart Industries management to meet with Seaport Global »

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  • 25

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  • 11

    Jul

WGO

Winnebago

$40.00

1.44 (3.73%)

08:36
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08:36
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08:36
Recommendations
Winnebago analyst commentary  »

Winnebago price target…

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PGNX

Progenics

$4.88

0.23 (4.95%)

08:36
06/20/19
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08:36
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08:36
Hot Stocks
Progenics to initiate basket trial by year-end for expanded label for AZEDRA »

Progenics Pharmaceuticals…

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