The US Treasury Department on Tuesday sold $40 billion of two-year government notes to the strongest demand in nine months and at a yield of 2.125pc, which was the lowest yield at an auction of this maturity since January 2018, Treasury data showed.
The ratio of bids to the amount of two-year notes offered was 2.75, the highest level since last August.
This gauge of overall auction demand was 2.51 at the previous two-year auction held in April, according to Treasury data.
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