U.S. sells 2-year debt at 0.30%; bonds stay down

[admin]

U.S. sells 2-year debt at 0.30%; bonds stay down
from MarketWatch.com - MarketPulse
NEW YORK (MarketWatch) -- The Treasury Department sold $35 billion in 2-year notes on Tuesday at a yield of 0.30%. Bidders offered to buy 3.95 times the amount of debt sold, above the average of 3.69 times at the last four auctions, according to CRT Capital Group. Indirect bidders, a group which includes foreign central banks, bought 33.5%, compared with 33.8% of recent sales. Direct bidders, a group which includes domestic money managers, purchased another 9%, versus an average of 14.4%. After the auction, the broader bond market remained under pressure. Yields on benchmark 10-year notes , which move inversely to prices, stayed up 5 basis points to 1.80%.