Investment funds buy $11.303 billion two-year note in May: U.S. Treasury

(Reuters) - Large investment managers bought $11.303 billion at a 2-year note auction held in May, compared with the $9.792 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 $4.520 billion of the latest 2-year supply,

compared with $5.948 billion they purchased the previous month, according to the Treasury Department’s auction allotment data.

The Treasury also sold some of $33 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 $16.572 billion of 5-year notes,

compared with the $13.604 billion they purchased the previous month. They bought $16.626 billion in 7-year debt versus $14.001 billion

the prior month.

Overseas investors bought $6.185 billion of the latest 5-year supply, compared with $5.853 billion they purchased the previous month.

They bought $4.876 billion of 7-year debt versus $5.542 billion the prior month.

The Treasury offered $43 billion in 5-year notes and $35 billion in 7-year debt.

At the Treasury’s monthly floating-rate note (FRN) auction, large money managers bought $3.050 billion of the $19 billion issued. Foreign investors purchased $2.815 billion of the latest 2-year FRN supply.

(New York Treasury Desk)

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