The US sold $69 billion in two-year notes at a high yield of 4.189%, reflecting elevated borrowing costs amid market volatility.
The US Treasury auctioned $69 billion of two-year notes at a high yield of 4.189%, signaling sustained demand for shorter-dated debt despite rising rates. The yield reflects investor expectations for tighter monetary policy amid inflation concerns and economic uncertainty.
The auction followed a sharp decline in US equity futures, with the NASDAQ dropping over 650 points intraday before closing down 2.21%. Market sentiment was weighed by mixed economic data, including a softer-than-expected Richmond Fed composite index and a slight uptick in the S&P Global flash services PMI.
Oil futures settled below their 200-day moving average, while gold tested key retracement levels. The USD extended gains, pushing USD/JPY near multi-decade highs, as intervention risks loomed over currency markets.