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Two-Year Note Auction Attracts Average Demand

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  • Legal obligations or to vote in an election/referendum
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PHOTOS: Boulder shooting community mourns one day after mass tragedy

The day after a gunman killed 10 people at a King Soopers in Boulder, law enforcement began releasing details about victims and the suspect. Leaders and members of the community from Boulder, around Colorado and across the country mourned the tragic killings.

The victims ranged in age from 20 to 65 and included the first Boulder police officer to arrive on scene as well as a King Soopers employee.

For full Denver Post coverage, click here.

Fed's Jerome Powell, Treasury's Janet Yellen talk COVID-19 relief

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Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen deliver testimony on the government’s COVID-19 relief efforts on Tuesday.

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U.S. stocks waffled between losses and gains on what marks the one-year anniversary of the stock market's bottom driven by pandemic selling.

COVID-19 PANIC STOCK SELLING BURNED INVESTORS WITH SHORTEST BEAR MARKET EVER

Follow all the headlines in the FOX Business Blog. Mobile users click here.

CLICK HERE TO READ MORE ON FOX BUSINESS

European Economics Preview: Eurozone Final Consumer Price Data Due

Final consumer price data from euro area and new car registrations from Europe are due on Wednesday, headlining a light day for the European economic news.

At 3.00 am ET, the European Automobile Manufacturers’ Association is slated to publish Europe’s new car registration data for February.

At 4.00 am ET, HICP data is due from Austria and Slovakia.

At 5.00 am ET, average gross wages data is due from Poland. Wage growth is seen at 4.9 percent in February versus 4.8 percent in January.

At 6.00 am ET, Eurostat publishes euro area final consumer prices for February. The statistical office is set to confirm 0.9 percent growth in consumer prices.

Two-Year Note Auction Attracts Average Demand

Kicking off this week’s series of announcements of the results of its long-term securities auctions, the Treasury Department revealed Tuesday that this month’s auction of $60 billion worth of two-year notes attracted average demand.

The two-year note auction drew a high yield of 0.152 percent and a bid-to-cover ratio of 2.54.

Last month, the Treasury also sold $60 billion worth of two-year notes, drawing a high yield of 0.119 percent and a bid-to-cover ratio of 2.44.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

The ten previous two-year note auctions had an average bid-to-cover ratio of 2.54.

Looking ahead, the Treasury is due to announce the results of its auction of $61 billion worth of five-year notes on Wednesday and the results of its auction of $62 billion worth of seven-year notes on Thursday.