Look out for the results just after the top of the hour.Here are some pros and cons from BMO:ProsWe haven’t seen a coupon auction tail since the 3-year offering on June 10th. Since then, 2s, 5s, 10s, 20s, 30s, and 5-year TIPS all stopped-through with above-average non-dealer allocations driven by elevated indirect bidding.Over the last decade, we’ve only seen three 7-year auctions tail during June, and seven stop-through. Framed another way, only one of the last six 7-year auctions during June tailed (2022), with the other five auctions stopping through and by an average of 0.4 bp.7-year supply has been generally well-received in 2024 with three a
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