U.S. Treasury notes traded higher on Monday after a two-year notes auction, as investors turned nervous ahead of the debate between U.S. presidential candidates and kept an eye on the OPEC meeting in Algiers.
The Treasury Department auctioned $26 billion in two-year notes at a high yield of 0.750 percent on Monday. The bid-to-cover ratio, an indicator of demand, was 2.65.
Indirect bidders, which include major central banks, were awarded 36.9 percent. Direct bidders, which includes domestic money managers, bought 19 percent. Two-year notes yielded about 0.73 percent after the auction.