U.S. sells 2-year debt at 0.273%; bonds stay up

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U.S. sells 2-year debt at 0.273%; bonds stay up
from MarketWatch.com - MarketPulse
SAN FRANCISCO (MarketWatch) -- The Treasury Department sold $35 billion in 2-year notes on Tuesday at a yield of 0.273%, up from last month's record-low level. Bidders offered to buy 3.94 times the amount of debt sold, above the average of 3.83 at the last four sales of the securities, according to CRT Capital Group. Indirect bidders, a class which includes foreign central banks, bought 22.3%, versus an average of 32.1% of recent sales. Direct bidders, a group which includes domestic money managers, purchased another 16%, compared with 8.7% on average. After the auction, the broader bond market held onto slim gains. Yields on 10-year notes , which move inversely to prices, fell 3 basis points to 1.64%.