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The Treasury Department announced the results of this month’s auction of $60 billion worth of two-year notes on Monday, revealing the sale attracted modestly below average demand.

The two-year note auction drew a high yield of 0.213 percent and a bid-to-cover ratio of 2.47.

Last month, the Treasury also sold $60 billion worth of two-year notes, drawing a high yield of 0.249 percent and a bid-to-cover ratio of 2.54.

The ten previous two-year note auctions had an average bid-to-cover ratio of 2.53.

Looking ahead, the Treasury is due to announce the results of this month’s auction of $61 billion worth of five-year notes on Tuesday and the results of this month’s auction of $62 billion worth of seven-year notes on Thursday.


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