JPMorgan on US 10 Yr Note Auction - FJElite

Treasury will auction $39bn reopened 10-year notes at 1pm, unchanged in size from the last reopening in September. Last month's auction cleared 1.5bp rich to pre-auction levels, the largest stop-through since April 2025. End-user demand increased by 4.3%-pts to 95.7%. the highest share since September 2025 and less than 0.1%-pt away from an all-time high (Figure 6). More granular auction allotment data show this increase was driven by foreign investors, whose takedown jumped 12.7%-pts to 28.1%. the highest share since November 2023.