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Wednesday, October 28, 2009
Treasury Sells 5-year Notes At 2.388%
By Deborah Levine
MarketWatch Pulse
NEW YORK -- The Treasury Department sold a record $41 billion in 5-year notes on Wednesday at a yield of 2.388%, the third of four big debt sales this week. Bidders offered $2.63 for every dollar of debt offered, compared to an average of $2.35 at the last four sales of 5-year notes. Indirect bidders, a group that includes foreign central banks, bought 54.8% of the sale. Direct bidders, which include investors buying for their own accounts, purchased almost 3%. In the last four sales, indirect bidders purchased about 50%, while direct bidders took 4.6%, according to CRT Capital Group. After the auction yields on 10-year notes , which move inversely to price, fell 2 basis points to 3.43%.
Copyright © 2009 MarketWatch, Inc.
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