May 28, 2015 / 4:07 PM / 3 years ago

Investors, dealers split U.S. FRN supply

NEW YORK, May 28 (Reuters) - Investors and bond dealers were close to evenly splitting the $13 billion in two-year floating-rate notes (FRN) the U.S. government sold on Thursday.

Direct and indirect bidders combined bought 50.76 percent of the latest two-year FRN supply, while primary dealers or the 22 top Wall Street firm that do business directly with the Federal Reserve purchased the rest, Treasury data showed.

Direct bidders include large investment funds and indirect bidders include foreign central banks.

At the prior FRN auction in April, direct and indirect bidders purchased 63.12 percent of the $15 billion in supply offered, while primary dealers bought 36.87 percent. (Reporting by Richard Leong)

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