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Bid-to-Cover Dips, Yields Bounce on 2yr Sale

US TSYS
  • 2yr line relatively well digested, although bid-to-cover dips to 2.28, that's below the 2.55 average from the past six auctions.
  • Dealer takedown also lurches higher to 33.0% - that's well ahead of the average of 28.3%.
  • Two-year yield inches back toward overnight (and post-pandemic) highs of 0.2881% in response. Trades at 0.2861% at typing.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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