The Treasury sells $44B in two-year notes at 1.024% (.pdf). Bid-to-cover ratio of 3.03 vs. a...

|By:, SA News Editor

The Treasury sells $44B in two-year notes at 1.024% (.pdf). Bid-to-cover ratio of 3.03 vs. a recent 3.09; indirect bidders take 31% (lowest in a year) vs. a recent 41.6%. Direct bidders take a high 21.4% vs. a recent 13%. Not the strongest auction, but Treasurys are holding gains after Europe's downgrades.