| first of all i'm going to give it an a | 3.359 | Jump to 4.0 |  |  | 
              
                
                  | 54 billion two-year notes the auction | 6.399 | Jump to 9.2 |  |  | 
              
                
                  | yield 0.99 percent it was a bit lower | 5.28 | Jump to 12.24 |  |  | 
              
                
                  | than the market was trading in one issue | 4.001 | Jump to 15.599 |  |  | 
              
                
                  | through the highlight shall we 2.81 bid | 4.8 | Jump to 22.08 |  |  | 
              
                
                  | since april of 2020 but here's the | 4.719 | Jump to 26.88 |  |  | 
              
                
                  | 66 percent that's the best since the | 6.439 | Jump to 38.6 |  |  | 
              
                
                  | summer of 09 one fly in the ointment | 6.16 | Jump to 41.44 |  |  | 
              
                
                  | were direct bidders at 9.4 percent | 4.961 | Jump to 45.039 |  |  | 
              
                
                  | that's the weakest since march of 2020 | 5.279 | Jump to 47.6 |  |  | 
              
                
                  | but it's well below 10 auction average | 6.0 | Jump to 50.0 |  |  | 
              
                
                  | if you look at 24.6 for dealers that's | 6.281 | Jump to 52.879 |  |  | 
              
                
                  | pretty solid so one bad metric several | 6.0 | Jump to 56.0 |  |  | 
              
                
                  | wednesday last week the 20-year | 4.719 | Jump to 64.4 |  |  | 
              
                
                  | aggressive bidders the two-year you talk | 4.8 | Jump to 66.4 |  |  | 
              
                
                  | fed meeting but in the end the two | 4.32 | Jump to 88.159 |  |  | 
              
                
                  | somewhere along the line since 2007 and | 5.36 | Jump to 145.2 |  |  | 
              
                
                  | 2008 and all the sins committed against | 4.88 | Jump to 147.92 |  |  |