January 26, 2016 / 6:21 PM / 2 years ago

U.S. two-year note supply fetches solid demand

NEW YORK, Jan 26 (Reuters) - The U.S. Treasury Department on Tuesday sold $26 billion of two-year debt to solid investor demand at a yield of 0.860 percent, the lowest since November, Treasury data showed.

The ratio of bids to the amount of two-year issue offered was 2.90, up from 2.80 at the prior auction in December, which was the lowest since August 2009.

Fund managers, foreign central banks and other indirect bidders purchased 57.85 percent of the latest two-year note supply, their biggest share since June 2009. In December, they bought 37.51 percent.

Small bond dealers and other direct bidders purchased 12.30 percent, down from 27.07 percent in December and the smallest share since November.

Primary dealers, or the top 22 Wall Street firms that do business directly with the Federal Reserve, purchased 29.85 percent, which was their smallest since July. In December, they bought 35.42 percent. (Reporting by Richard Leong; Editing by James Dalgleish)

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