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12:45
11/06/18
11/06
12:45
11/06/18
12:45

Treasury 10-year auction preview: the auction faces a major headwind

Treasury 10-year auction preview: the auction faces a major headwind -- the mid-term elections. The uncertainty over and the importance of the results made for a poor 3-year auction yesterday, and is liable to make for soft results today. Additionally, there's the upcoming FOMC, and even though no rate change is expected, there are some worries over a more hawkish trajectory. The note has cheapened marginally with the wi rising 1.5 bps to 3.215%, and a stop there would be only marginally below October's 3.225% award rate, which was the highest since the spring of 2011. The note isn't that attractive on the curve, having narrowed a bit versus the 2-year. It's not on special in the repo market, and dealer positions went long in the recent week, so a short covering bid could be lacking. The increased volume with $27 B on the auction block, up from the $23 B October refunding and $26 B for the August refunding may weaken the cover ratio. Meanwhile, indirect bidding should remain decent with spreads still quite wide (+277 bps versus the Bund). Attention will be on direct bidding after recent weakness in that statistic. The October auction stopped at 3.225% and saw a 2.39 cover (2.51 average) and a 64.5% indirect bid (63.1% average). Direct bidders took 5.4% last month, while primary dealers took 30.1%.

TODAY'S FREE FLY STORIES

WTW

WW

$29.34

0.27 (0.93%)

15:35
02/22/19
02/22
15:35
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15:35
Options
Weight Watchers put volume heavy and directionally bearish »

Bearish flow noted in…

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15:35
02/22/19
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15:35
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15:35
General news
U.S. Treasury Market Summary »

U.S. Treasury Market…

15:28
02/22/19
02/22
15:28
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15:28
Conference/Events
House Financial Services Committee to hold a hearing »

The Committee holds a…

IWM

iShares Trust Russell 2000 Index Fund

$157.79

1 (0.64%)

, RUT

Russell 2000 Index

$0.00

(0.00%)

15:22
02/22/19
02/22
15:22
02/22/19
15:22
Technical Analysis
On The Fly: Weekly technical notes for Russell 2000 »

For the holiday-shortened…

IWM

iShares Trust Russell 2000 Index Fund

$157.79

1 (0.64%)

RUT

Russell 2000 Index

$0.00

(0.00%)

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XLB

S&P Select Materials SPDR

$55.68

0.14 (0.25%)

, XLE

Energy Select Sector SPDR

$65.66

0.1 (0.15%)

15:22
02/22/19
02/22
15:22
02/22/19
15:22
Technical Analysis
On The Fly: Weekly technical notes for S&P 500 »

At time of writing the…

XLB

S&P Select Materials SPDR

$55.68

0.14 (0.25%)

XLE

Energy Select Sector SPDR

$65.66

0.1 (0.15%)

XLF

Financial Select Sector

$26.43

-0.085 (-0.32%)

XLI

Industrial Select Sector SPDR

$75.89

0.19 (0.25%)

XLY

Consumer Discretionary Sector SPDR

$110.81

0.31 (0.28%)

XLV

Health Care Select Sector SPDR

$92.29

0.59 (0.64%)

XLK

Technology Select Sector SPDR

$70.39

0.64 (0.92%)

SPY

SPDR S&P 500 ETF Trust

$278.35

0.92 (0.33%)

SPX

S&P 500

$0.00

(0.00%)

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15:21
02/22/19
02/22
15:21
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15:21
Conference/Events
House Appropriations Committee to hold a hearing »

The Subcommittee on…

RF

Regions Financial

$16.16

-0.085 (-0.52%)

15:20
02/22/19
02/22
15:20
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15:20
Options
Call spreads in Regions Financial as bullish positions are adjusted »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
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02/22
15:17
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15:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
02/22/19
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15:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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UA

Under Armour

$19.57

0.16 (0.82%)

15:15
02/22/19
02/22
15:15
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15:15
Options
Under Armour put volume heavy and directionally bearish »

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15:15
02/22/19
02/22
15:15
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15:15
General news
Treasury Action: Treasuries have been underpinned all day »

Treasury Action:…

ABBV

AbbVie

$79.47

0.71 (0.90%)

, AZN

AstraZeneca

$40.78

0.345 (0.85%)

15:14
02/22/19
02/22
15:14
02/22/19
15:14
Conference/Events
Senate Finance Committee to hold a hearing »

The Committee holds a…

ABBV

AbbVie

$79.47

0.71 (0.90%)

AZN

AstraZeneca

$40.78

0.345 (0.85%)

BMY

Bristol-Myers

$50.75

0.6 (1.20%)

JNJ

Johnson & Johnson

$136.22

0.82 (0.61%)

MRK

Merck

$80.39

0.57 (0.71%)

PFE

Pfizer

$42.91

0.77 (1.83%)

SNY

Sanofi

$41.10

-0.23 (-0.56%)

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  • 22

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  • 25

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  • 27

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  • 04

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  • 06

    Mar

  • 07

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  • 11

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  • 22

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  • 20

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  • 17

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MGA

Magna

$54.61

2.015 (3.83%)

15:04
02/22/19
02/22
15:04
02/22/19
15:04
Downgrade
Magna rating change  »

Magna downgraded to Hold…

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  • 22

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  • 22

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LTRPA

Liberty TripAdvisor

$16.20

0.31 (1.95%)

15:04
02/22/19
02/22
15:04
02/22/19
15:04
Options
Liberty TripAdvisor options imply 4.8% move in share price post-earnings, above median historical move »

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  • 28

    Feb

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$278.32

0.89 (0.32%)

14:59
02/22/19
02/22
14:59
02/22/19
14:59
Periodicals
U.S. Treasury Secretary says U.S, China reach pact on currency issues, CNBC says »

Steven Mnuchin, U.S.…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$278.32

0.89 (0.32%)

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14:55
02/22/19
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14:55
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14:55
General news
Fed's Bullard doesn't want to be shrinking the balance sheet and cutting rates »

Fed's Bullard…

ALXN

Alexion

$128.46

0.9 (0.71%)

14:52
02/22/19
02/22
14:52
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14:52
Hot Stocks
Alexion says FDA grants priority review and accepts sBLA of Soliris »

Alexion Pharmaceuticals…

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  • 20

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14:50
02/22/19
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14:50
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Conference/Events
Senate Energy & Natural Resources Committee to hold a hearing »

The Committee holds a…

JMEI

Jumei

$2.68

0.19 (7.63%)

14:49
02/22/19
02/22
14:49
02/22/19
14:49
Options
Jumei options imply 7.1% move in share price post-earnings, above median historical move »

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AGR

Avangrid

$48.84

-0.06 (-0.12%)

14:42
02/22/19
02/22
14:42
02/22/19
14:42
Conference/Events
Avangrid to host investor meeting »

Investor meeting to be…

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  • 26

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$278.77

1.34 (0.48%)

14:42
02/22/19
02/22
14:42
02/22/19
14:42
Periodicals
Xi tells Trump both sides will redouble efforts to come to trade pact, CNBC says »

In a letter to U.S.…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$278.77

1.34 (0.48%)

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14:40
02/22/19
02/22
14:40
02/22/19
14:40
General news
Fed's Quarles confirmed the FOMC's decision to maintain an "ample" reserve balance »

Fed's Quarles…

PDVW

pdvWireless

$46.00

5.105 (12.48%)

14:30
02/22/19
02/22
14:30
02/22/19
14:30
Hot Stocks
pdvWireless move higher attributed to FCC proposed rulemaking notice »

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14:25
02/22/19
02/22
14:25
02/22/19
14:25
General news
Action Economics Survey results: »

Action Economics Survey…

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
02/22/19
02/22
14:17
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14:17
Technical Analysis
NASDAQ market internals summary »

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