July 23, 2018 / 8:23 PM / 4 months ago

UPDATE 1-Foreign investors take less U.S. Treasury supply at auctions

    * Foreigners purchase lowest 10-year note supply since
September
    * Treasury awards dealers most 3-year debt since 2013

 (Recasts, adds background)
    NEW YORK, July 23 (Reuters) - Overseas investors purchased
fewer U.S. government debt issues at auctions in early July,
supporting the view that foreign appetite for U.S. bonds is
waning due to trade friction and a strong dollar.
    Offshore private and government accounts bought $2.471
billion of the $22 billion in 10-year Treasury notes offered on
July 11, down from $4.506 billion at the previous 10-year
auction the month before, data from the U.S. Treasury Department
released on Monday showed.
    This was the lowest amount of 10-year notes they bought
since September 2017.
    Overseas investors bought $1.146 billion of $14 billion of
30-year bonds sold on July 12, lower than the $1.357 billion the
prior month, according to the Treasury's latest auction
allotment data.    
    They purchased $3.973 billion of the $33 billion three-year
note supply offered on July 10, which was the smallest amount
since January. This was below the $5.649 billion they purchased
in June.
    As offshore demand for Treasury supply retreated, investment
managers raised their purchases of U.S. government securities.
    They bought $13.353 billion of the 10-year notes sold
earlier this month, which was the most since the Treasury made
this data available going back to 2000.
    Fund managers purchased $8.584 billion in 30-year bonds, up
slightly from $8.490 billion the prior month.    
    On the other hand, they bought $11.106 billion of three-year
notes, less than the $12.587 billion they purchased the previous
month.
    The Treasury allotted $17.774 billion of three-year note
supply to bond dealers earlier this month, which was their
largest amount since September 2013.  

 (Reporting by Richard Leong; editing by Jonathan Oatis)
  
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