Investment funds buy $11.530 billion two-year note in May: U.S. Treasury

May 8 (Reuters) - Large investment managers bought $11.530 billion at a 2-year note auction held in May, compared with the $11.162 billion they purchased the previous month, data from the U.S. Treasury Department released on Monday showed.

Overseas investors, another major group of holders of U.S. government debt, bought $6.244 billion of the latest 2-year supply, compared with $5.188 billion they purchased the previous month, according to the Treasury Department’s auction allotment data.

The Treasury also sold some of $30 billion of 2-year notes earlier this month to banks, pension funds and Wall Street bond dealers.

At other auctions held the same week as the 2-year auction, large investment managers bought $15.593 billion of 5-year notes, compared with the $17.943 billion they purchased the previous month. They bought $19.153 billion in 7-year debt versus $16.536 billion the prior month.

Overseas investors bought $4.666 billion of the latest 5-year supply, compared with $6.144 billion they purchased the previous month.

They bought $5.398 billion of 7-year debt versus $4.370 billion the prior month.

The Treasury offered $39 billion in 5-year notes and $32 billion in 7-year debt.

At the Treasury’s monthly floating-rate note (FRN) auction, large money managers bought $3.679 billion of the $17 billion issued, compared with $0.957 billion the prior month. Foreign investors purchased $2.875 billion of the latest 2-year FRN supply.

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