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Primary dealers buy fewest U.S. 5-year notes in a year
May 24, 2017 / 5:28 PM / in 7 months

Primary dealers buy fewest U.S. 5-year notes in a year

NEW YORK, May 24 (Reuters) - Wall Street’s top 23 firms on Wednesday purchased the smallest amount of five-year government notes at an auction in a year, resulting in the lowest yield at an auction for this maturity since November, Treasury data showed.

These primary dealers which are required to bid at Treasuries auctions to maintain their status for doing business directly with the Federal Reserve bought 22.73 percent of the $34 billion worth of five-year notes offered by the Treasury Department, their smallest share since the record low 21.81 percent allotment in May 2016. nZXN0D0W1E]

Reporting by Richard Leong; Editing by Chris Reese

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