NEW YORK – The Treasury Department sold $30 billion in 2-year notes Tuesday at a yield of 0.511%. Bidders offered to buy 3.23 times the amount of debt sold, compared to an average of 3.46 times at the last six sales. Indirect bidders, a group that includes foreign central banks, bought 23.1%, versus 27.9% in recent sales. Direct bidders, which include domestic money managers, purchased another 23.3%, versus an average of 22.9%. The broader bond market added to gains after the auction. Yields on 10-year notes , which move inversely to prices, fell 3.5 basis points to 2.586%.
Copyright © 2014 MarketWatch, Inc.