July 10, 2018 / 9:20 PM / 9 months ago

UPDATE 1-Investment funds buy record amount of U.S. 2-year note supply in recent auctions

 (Recasts, adds background)
    NEW YORK, July 10 (Reuters) - Investment managers bought a
record amount of U.S. two-year Treasury notes sold at the end of
June when financial markets were nervous about the escalating
trade tensions between China and the United States, U.S.
Treasury Department data released on Tuesday showed.
    In late June, investors had preferred the safety of low-risk
U.S. government debt over stocks and other risky assets as they
fretted about the possible economic fallout from import tariffs
on trade between the world's two largest economies.
    The U.S. Treasury awarded investment funds $14.866 billion
of the $34 billion in two-year notes offered on June 26. This
was the most that this class of bidders bought at a two-year
auction               on record.             
    The two-year auction was part of the $100 billion
coupon-bearing Treasury supply sold that week.
    Fund managers purchased $19.931 billion of the $36 billion
five-year notes offered on June 27. This was the highest amount 
             since last September and more than $19.456 billion
they purchased in May.             
    On the other hand, they bought $18.177 billion in $30
billion in seven-year debt on June 28, less than the $19.126
billion              they purchased in May.

 (Reporting by Richard Leong)
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