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Investors give cold shoulder to U.S. floating-rate debt supply

NEW YORK (Reuters) - Investors gave a chilly reception to $15 billion worth of two-year floating-rate notes from the U.S. government on Wednesday in an about-face from their sizzling bids for these securities just a month earlier.

The ratio of bids to the amount of two-year FRN offered <912828V64=>, which measures overall demand at an auction, was 3.16, down from 3.80 in December which was the strongest since July 2016.

(Reporting by Richard Leong)

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