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Treasury sees slim demand for 5-year debt

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Posted on March 24 2010 2:00 pm
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by Deborah Levine

The Treasury Department sold $42 billion in 5-year notes (UST5YR 2.58, +0.16, +6.80%) on Wednesday at 2.605%, higher than traders had anticipated. Bidders offered to buy 2.55 times the amount debt being sold, the lowest since September. That metric of investor demand also compares to 2.74 times on average at the last four sales of the securities, all for the same amount. Indirect bidders — a class of investors that includes foreign central banks — bought 39.6% of the offering, compared to an average of 49.6% of recent sales and the lowest since July.

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