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Primary dealers buy record-low share of U.S. 5-year Treasury note supply
August 28, 2017 / 5:15 PM / a month ago

Primary dealers buy record-low share of U.S. 5-year Treasury note supply

NEW YORK, Aug 28 (Reuters) - The U.S. Treasury Department on Monday awarded Wall Street’s top 23 firms a record low share of five-year government notes at an auction, while it allotted direct bidders their biggest stake since July 2014, Treasury data showed.

Primary dealers, or broker-dealers that do business directly with the Federal Reserve, bought 17.47 percent of $34 billion in the latest five-year Treasury issue offered.

This compared with the 24.06 percent they purchased at the prior five-year auction in July. (Reporting by Richard Leong; Editing by Bernadette Baum)

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