US sells 2-year notes at 1.230% vs 1.235% WI bid

Results of the $26 billion, 2-year note sale

• The notes were trading at 1.240/1.230% in the when-issued market
• Prior sale was 1.210%
• 2.82 bid to cover vs 2.680 prior

On the strong side but not strong enough to spill over into USD/JPY selling.