US sells 2-year notes at 4.274% vs 4.292% WI

• Prior was 4.13%

• Indirects were awarded 71.6% vs. an average of
  65.8%, that’s also the 2nd highest on record

Even with today’s big rally in fixed income, this is the highest yield in four months. Still, it’s a 1.8 bps stop through and that highlights real-money demand for fixed income, which is an impressive endorsement of Scott Bessent.

This article was written by Adam Button at www.forexlive.com.