U.S. sells 2-year debt at 0.281%; bonds stay up

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U.S. sells 2-year debt at 0.281%; bonds stay up
NEW YORK (MarketWatch) -- The Treasury Department sold $35 billion in 2-year notes on Tuesday at a yield of 0.281%, lower than expected but the highest since July. Bidders offered to buy 3.64 times the amount of debt offered, compared to an average of 3.36 times at the last four monthly sales of the securities. Indirect bidders, a group which includes foreign central banks, purchased 39.2% of the sales, compared to 29.5% on average. Direct bidders, a group that includes domestic money managers, bought another 8.2%, versus an average of 15.4%. After the auction, the broader bond market held onto gains. Yields on 10-year notes , which move inversely to prices, fell 7 basis points to 2.17%.