{"id":438583,"date":"2026-09-23T00:03:56","date_gmt":"2026-09-22T17:03:56","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-treasury-sells-69-billion-of-two-year-notes-at-a-high-yield-of-4-787-438583\/"},"modified":"2026-09-23T00:03:56","modified_gmt":"2026-09-22T17:03:56","slug":"us-treasury-sells-69-billion-of-two-year-notes-at-a-high-yield-of-4-787","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-treasury-sells-69-billion-of-two-year-notes-at-a-high-yield-of-4-787-438583\/","title":{"rendered":"US treasury sells $69 billion of two-year notes at a high yield of 4.787%"},"content":{"rendered":"<div>\n<ul>\n<li>High yield\u00a0of 4.787%<\/li>\n<li>WI level at the time of the auction 4.785%<\/li>\n<li>Tail\u00a00.2 basis points versus average of 0.1 basis point<\/li>\n<li>Bid to cover 2.63X average of 2.61X<\/li>\n<li>Directs\u00a029.2% versus average of 28.3%<\/li>\n<li>Indirects\u00a057.79% versus average of 58.6%<\/li>\n<li>Dealers\u00a013.19% versus average of 13.1%<\/li>\n<\/ul>\n<p dir=\"auto\" class=\"PDq2pG_selectionAnchorContainer\">Auction grade: C<\/p>\n<p dir=\"auto\">The auction was close to average overall. The high yield of 4.787% was 0.2 basis points above the when-issued level, a slightly larger tail than the 0.1-basis-point average. Demand was modestly better on the bid-to-cover ratio at 2.63 times versus 2.61 times, and direct bidders took a slightly larger share than usual. Indirect bidding was a touch below average, while dealer takedown was essentially in line. There was no standout sign of strength or weakness, making C a fair grade.<\/p>\n<p>                            This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>High yield\u00a0of 4.787% WI level at the time of the auction 4.785% Tail\u00a00.2 basis points versus average of 0.1 basis point Bid to cover 2.63X average of 2.61X Directs\u00a029.2% versus average of&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-438583","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/438583","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=438583"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/438583\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=438583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=438583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=438583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}