🚀 U.S. Treasury's $69 Billion 2-Year Note Auction Sees Weaker Demand
#USTreasury #BondAuction #2YearNote #WeakDemand #InterestRates #OilPrices #MiddleEastConflict #FederalReserve
The U.S. Treasury conducted an auction on Tuesday, selling $69 billion of 2-year notes at a high yield of 3.936%. According to NS3.AI, demand for these notes was weaker compared to the previous month, with the bid-to-cover ratio decreasing to 2.44 from February's 2.63. Primary dealers ended up taking a larger share of the sale. This weaker auction occurred amid rising oil prices due to Middle East conflicts and diminishing hopes for swift Federal Reserve rate cuts.#USTreasury #BondAuction #2YearNote #WeakDemand #InterestRates #OilPrices #MiddleEastConflict #FederalReserve