Results of the two-year $52 billion note sale

  • Prior was 0.155%
  • Was trading at 0.130%-0.140% on the bid/ask in the WI market
  • Bid to cover 2.42 vs 2.78 prior

This is a small tail but it's the lowest ever US 2-year sale, coming in under the 0.155% levels in July/Aug.