2020-06-09 13:20:01 13:20 06/09/20 06/0913:20 06/09/2013:20 | Treasury's $29 B 10-year reopening very poorly subscribed by every metricTreasury's $29 B 10-year reopening very poorly subscribed by every metric. The auction priced unaggressively and saw low demand from investors with a hefty takedown by dealers (who are quick to be sellers). It could be that the signs of improvement in the economy and the fears over huge supply still ahead kept investors sidelined. The offering stopped at 0.832%, tailing out versus 0.819% at the bid deadline. It's also cheaper than the 0.700% record low from the $32 B May refunding, while the stop on the $25 B April reopening was 0.782%. There were nearly $65.7 B in bids for a weak 2.26 cover. It's well below the 2.69 for the new issue and is even worse than it looks as today's volume is $3 B less than May's. The cover for the prior reopening in April was 2.43, with the 12-month average at 2.45. This is the worst since August 2019. Indirect bidders took 56.7%, also less than the 66.1% last month and 59.2% in April (60.6% average). Direct bidders were awarded 11.8%, similarly worse than the 13.3% previously and 13.2% in April (13.7% average). Primary dealers accepted 31.5%, up from the 20.5% for the new issue and 27.6% for the prior reopening (25.8% average). It's the highest since May 2019. |
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13:24 02/26/21 02/2613:24 02/26/2113:24
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National Bank of Canada price target raised to C$83 from C$76 at Desjardins »
13:23 02/26/21 02/2613:23 02/26/2113:23
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Goodfood Market price target lowered to C$14 from C$15 at Desjardins »
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Crescent Point Energy price target raised to C$6 from C$5.50 at Desjardins »
13:21 02/26/21 02/2613:21 02/26/2113:21
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Toronto-Dominion price target raised to C$82 from C$75 at National Bank »
13:17 02/26/21 02/2613:17 02/26/2113:17
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NASDAQ market internals summary »
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Taseko Mines price target raised to C$2.65 from C$2 at National Bank »
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Trident Acquisitions Corporation (Units) trading resumes
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Pason Systems price target raised to C$11 from C$10.50 at National Bank »
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Osisko Gold price target lowered to C$23 from C$23.50 at National Bank »
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Enerflex price target raised to C$10.50 from C$10 at National Bank »
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Nuvista Energy upgraded to Outperform from Sector Perform at National Bank »
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Atlassian acquires Chartio, terms not disclosed »
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Qurate Retail reports Q4 adjusted EPS $1.59, consensus 75c »
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