US 2-year note auction 3.984% vs 3.987% WI

Results of the sale just after the 1 pm ET deadline.

• Prior was 4.169%
• Bid to cover 2.66 vs 2.56 prior

I thought we might see a 4-handle but the combo of the soft consumer confidence data today and worries about tariffs knocked it through the figure. If we get a tolerable tariff solution and some pickup in economic data, this could be the last sale below 4% in awhile.

This article was written by Adam Button at www.forexlive.com.