Treasury sells $35 bln in 2-year debt at 0.340%

[admin]

Treasury sells $35 bln in 2-year debt at 0.340%
from MarketWatch.com - MarketPulse
SAN FRANCISCO (MarketWatch) -- The Treasury Department sold $35 billion in 2-year notes on Tuesday at a yield of 0.340%, the highest level since July. Bidders offered to buy 3.69 times the amount of debt sold, fractionally below the average of 3.70 times at the last four sales of 2-year notes, according to CRT Capital Group. Indirect bidders, a group which includes foreign central banks, purchased 34.3%, compared to 33.1% of recent sales. Direct bidders, a class which includes domestic money managers, bought another 21.4% versus an average of 10.9%. After the auction, the broader bond market was mostly unchanged but yields on 2-year notes , which move inversely to prices, ticked higher to 0.35% from 0.33% before the sale.