REUTERS – Large investment managers bought $23.931 billion at a 2-year note auction held in September, compared with the $24.193 billion they purchased the previous month, data from the U.S. Treasury Department released on Friday showed.
Overseas investors, another major group of holders of U.S. government debt, bought $7.391 billion of the latest 2-year supply, compared with $8.444 billion they purchased the previous month, according to the Treasury Department’s auction allotment data.
The Treasury also sold some of $43 billion of 2-year notes earlier this month to banks, pension funds and Wall Street bond dealers.
At other auctions held the same week as the 2-year auction, large investment managers bought $27.713 billion of 5-year notes, compared with the $29.317 billion they purchased the previous month. They bought $25.684 billion in 7-year debt versus $26.826 billion the prior month.
Overseas investors bought $5.747 billion of the latest 5-year supply, compared with $5.573 billion they purchased the previous month.
They bought $5.144 billion of 7-year debt versus $6.427 billion the prior month.
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The Treasury offered $44 billion in 5-year notes and $36 billion in 7-year debt.
At the Treasury’s monthly floating-rate note (FRN) auction, large money managers bought $7.386 billion of the $22 billion issued. Foreign investors purchased $4.840 billion of the latest 2-year FRN supply.
As for the month’s supply of Treasury Inflation-Protected Securities (TIPS), the Treasury offered $15 billion in 10-Year TIPS Note of
which investment funds bought $12.052 billion and foreign investors purchased $1.700 billion.