September 24, 2018 / 5:13 PM / 22 days ago

U.S. 2-year Treasury notes sold at highest yield since 2008

NEW YORK, Sept 24 (Reuters) - The $37 billion in new supply of 2-year Treasury notes on Monday were sold at the highest yield at auction since June 2008.

Demand was lackluster despite low prices, driving the yield on the 2-year note up modestly to 2.817 percent on Monday after the Treasury Department sale. The high yield at auction was 2.829 percent, the highest since June 2008 at 2.922 percent, reflecting expectations the Federal Reserve will raise interest rates at this week’s meeting.

Reporting by Kate Duguid; editing by Jonathan Oatis

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