Demand at US 2-year note sale strongest since late 2015

NEW YORK: Overall bidding for $26 billion of US two-year Treasury note supply on Tuesday was the strongest since late 2015, resulting in the highest yield for this debt maturity at an auction since October 2008, Treasury data showed.

The ratio of bids to the amount of two-year issue offered was 3.06, the highest since November 2015 when it was 3.15. This measure of auction demand was 3.03 at the previous two-year note sale in June.