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To: robnhood who wrote (148880)	2/5/2002 2:56:36 PM
From: robnhood	Read Replies (1) \| Respond to of 436258

<<-- U.S. Treasuries fall off block after auction -- (Recasts with auction, updates prices, adds comment) By Jon Herskovitz NEW YORK, Feb 5 (Reuters) - U.S. Treasuries dropped sharply on Tuesday after a hefty $16 billion auction of reopened five-year notes met with some of the weakest demand in about 15 years for a U.S. government sale of the issue. Market players said that investors bid up the price of the issue too high before the auction. "It looks like the Street paid a little too much for them. They are trading well cheaper to where they came into auction at this point in time," said John Roberts, head government bond trader at Barclays Capital. Traders said that the bid to cover ratio, an indicator of demand that measures the ratio of the bids received over those accepted, was at an anemic 1.47, which was the lowest since about 1987.>>>