$44B in new 2yr notes come at 0.802% or right on top of 1pm levels.
*U.S. AWARDS 44.5% OF 2-YR TO INDIRECT
*U.S. TWO-YEAR NOTES BID/COVER RATIO 3.16 AT AUCTION
Direct bidders took 4.7% of the auction (well down from last month and back to averages seen before Sept. The Dealer award of 50.8% which is the highest since July of this year.
A very clean auction close to recent averages for all categories. Indeed, the VERY light flows in 2yrs seen today only brought the auction stats back to normal from “stellar.” Two year notes are little changed after the results.