US Treasury sells $69 of 2YR notes at lower-than-expected yield

Investing.com -- The U.S. government sold $69 billion of 2-year notes on Monday at a lower-than-expected yield even as demand slipped.

The notes were awarded at 4.169%, below the pre-sale, or when-issue, rate of 4.180%, the 4.211% high seen in the prior auction.

The bid to cover ratio, a measure of demand for the auction fell to 2.56 from 2.66 seen in the prior auction.

Dealers made up 51.47% of the bids, with direct bidders at 7.66% and indirect bidders at 40.87%.

The yield on 2-year United States 2-Year slipped 2 basis points to 4.17%.

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