Stay 
Trading Conditions
Products
Tools
On Tuesday, the Treasury Department kicked off this week's series of long-term securities auctions with the sale of $40 billion worth of two-year notes, attracting below average demand.
The two-year note auction drew a high yield of 2.355 percent and a bid-to-cover ratio of 2.51.
The Treasury also sold $40 billion worth of two-year notes last month, drawing a high yield of 2.261 percent and a bid-to-cover ratio of 2.60.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
The ten previous two-year note auctions had an average bid-to-cover ratio of 2.63.
Looking ahead, the Treasury is due to sell $41 billion worth of five-year notes on Wednesday and $32 billion worth of seven-year notes on Thursday.
