US 2-Year Treasury Auction Yield Reaches Highest Level Since 2024, Demand Falls Slightly Short of Forecasts
Deep News
Sep 23
The U.S. Treasury's auction of $69 billion in 2-year notes drew a high yield of 4.787%, the steepest since May 2024. This came in above the 4.785% pre-auction trading level at the 1 p.m. New York time bidding deadline, signaling that appetite was marginally weaker than anticipated.
Primary dealers took down 13.2% of the offering, the largest share since March. Indirect bidders saw their allocation dip to 57.8%, while direct bidders increased their take to 29%. The bid-to-cover ratio, a gauge of overall demand, stood at 2.63 times, edging past the 2.61 average recorded across the previous six sales.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.