Treasury’s $63 billion auction of 2-year notes produces solid outcome, strategist says

Monday’s $63 billion sale of 2-year notes was met with good demand,according to a strategist.The 11:30 a.m. Eastern sale drew more indirect bidders than usual, with that group being awarded 65.2% versus an average of 62.8%, according to Vail Hartman of BMO Capital Markets. Hartman used the word “solid” to sum up the results. The $63 billion auction is set to be followed by a $64 billion sale of 5-year notes, scheduled for 1 p.m. ET. Treasury yields remained slightly higher