US sells 2-year notes at 0.745% vs 0.740% WI

Results of the US 2-year note auction
– Was trading at 0.740% on the bid side in the when issued market
– Prior was 0.920%
– Bid to cover at 2.72 vs 3.00 prior
The market has shifted a long way from a month ago when the Fed was stoking rate hike talk.

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