{"id":428879,"date":"2026-03-25T00:25:10","date_gmt":"2026-03-24T17:25:10","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/2026\/03\/the-u-s-treasury-sold-69-billion-of-2-year-notes-at-a-high-yield-of-3-936\/"},"modified":"2026-03-25T00:25:10","modified_gmt":"2026-03-24T17:25:10","slug":"the-u-s-treasury-sold-69-billion-of-2-year-notes-at-a-high-yield-of-3-936","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/the-u-s-treasury-sold-69-billion-of-2-year-notes-at-a-high-yield-of-3-936-428879\/","title":{"rendered":"The U.S. Treasury sold $69 billion of 2 year notes at a high yield of 3.936%"},"content":{"rendered":"<div>\n<p>The US treasury sold $69 billion of 2 year notes at a high yield of 3.936%<\/p>\n<ul>\n<li>WI level at the time of the auction 3.918%<\/li>\n<li>Tail 1.8 basis points vs 6 month average of -0.2 basis points<\/li>\n<li>Bid to cover 2.44X vs 6 month average of 2.62X<\/li>\n<li>Directs 16.5% versus 6 month average of 32.1%<\/li>\n<li>Indirects 59.3% versus 6 month average of 57.2%<\/li>\n<li>Dealers 24.12% versus 6 month average of 10.7%<\/li>\n<\/ul>\n<p>AUCTION GRADE: D-<\/p>\n<p>It would take a failed auction to get an F grade but the D grade is pretty low relative to recent auctions. The only saving grace is the Indirect take of 59.3% which was higher than 57.2% but that may just because the directs were so weak at only 16.5%.  Dealers were saddled with nearly 25%.<\/p>\n<p>The 2 year yield is currently trading at 3.95% up 12.2 basis points. The 10 year yield is up 8.3 basis points at 4.419%. The recent high reached 4.44%. <\/p>\n<p>                            This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The US treasury sold $69 billion of 2 year notes at a high yield of 3.936% WI level at the time of the auction 3.918% Tail 1.8 basis points vs 6 month&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-428879","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/428879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=428879"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/428879\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=428879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=428879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=428879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}