TREASURIES-Bonds firm after record $34 bln 2Y note sale

NEW YORK, Sept 24 (Reuters) - U.S. Treasury debt prices firmed slightly on Wednesday, after a record size $34 billion auction of 2-year notes generated decent demand, traders said.

In the market, the 2-year Treasury note's price rose 1/32 for a yield of 2.05 percent US2YT=RR, versus 2.07 percent before the auction and versus 2.07 percent late Tuesday.

Indirect bidders, who include foreign central banks, took about 27 percent of the 2-year sale, in line with this year's average for such auctions.

"It was a good auction but didn't excel to the upside, which is a good thing at these low yield levels," said Mary Ann Hurley, senior Treasuries trader in Seattle at brokerage D.A. Davidson.

The bid-to-cover ratio, a gauge of demand, was 2.21, slightly below the 2.26 long term average. (Reporting by John Parry and Richard Leong; Editing by Theodore d'Afflisio)