US sells 2-year notes at 3.084% vs 3.077% WI

The US Treasury sold $44 billion in two-year notes.

• Prior was 2.519%
• Bid to cover at 2.51 vs 2.61 prior

Yields had started to come back down today but this puffed them up. The OTR 2s are now at 3.11%, up by about 1 bps since the sale.

I would have expected real money to make a better show with the opportunity to take down 2s yielding above 3% but that wasn't the case. That might have been a concession because we get both 2s and 5s today, with the later coming in 90 mins at 1 pm ET.

/eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term