Studying Treasury documentation today :
- - the treasury will auction 10y notes every 3m
- - they also auction 9y11m and 9y10m notes for the months in between ; common practice : but when we pull up "10y note historical data" these are ignored ( whereas the capital market still has something to buy every month )
- - so every 3 months, the "10y note historical data" switches to the data points from the latest 10y issuance, and grandfathers in the data points from the earlier 10y issuances
- - the "10y note historical data" quotes the prices as multiples of par ... where 100'0'0 means ( 100% + 0/32ths ) of par value ( par values change for every issuance, so reporting a multiple of par, normalises the price quotes )
- - omg
- https://www.treasurydirect.gov/auctions/announcements-data-results/announcement-results-press-releases/auction-results/
- - for example, the latest auction result published in AUG is for a 15AUG issuance
- - there is not yet a auction result published in AUG+3m=NOV for the 15NOV issuance ...
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