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Bidding at U.S. 2-year note sale strongest in a year
May 23, 2017 / 5:16 PM / 6 months ago

Bidding at U.S. 2-year note sale strongest in a year

NEW YORK, May 23 (Reuters) - A gauge of total bids for $26 billion worth of U.S. two-year government debt on Tuesday reached its strongest level in a year with the yield at a two-year auction hitting its highest level since September 2008, according to Treasury data.

The amount of bids to the amount of two-year notes offered was 2.90, which was the highest since May 2016 when it was 3.00. At the prior two-year note sale in April, the bid-to-cover ratio was 2.85. (Reporting by Richard Leong; Editing by Tom Brown)

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