U.S. sells 5-yr notes at highest yield in 3 months

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U.S. sells 5-yr notes at highest yield in 3 months
from MarketWatch.com - MarketPulse
NEW YORK (MarketWatch) -- The Treasury Department sold $35 billion in 5-year notes on Wednesday at a yield of 0.9%, the highest level since November. Bidders offered to buy 2.89 times the amount of debt sold, compared to an average of 3.02 times at the last four sales of 5-year notes, according to CRT Capital Group. Indirect bidders, a group which includes foreign central banks, purchased 41.8%, compared to 47.2% of recent sales. Direct bidders, a class which includes domestic money managers, brought another 12.9%, versus an average of 11.1%. After the auction, the broader bond market held onto gains. Yields on 10-year notes , which move inversely to prices, fell 3 basis points to 2.03%.