US sells 2-year notes at 2.365% vs 2.355% WI

• Prior auction was 1.553%
• Bid to cover 2.46

In just a month, US 2-year yields have risen by 100 basis points.

The tail in this auction hasn't had a lasting effect but 2-year rates are up to 2.45% from a low of 2.41% earlier.