By using the two photon Bloch equation and quantum regression theorem, the second order correlation function of two photon fluorescence of a two level atom in a broad band squeezed vacuum is obtained. From this, the bunching and the antibunching effects of two photon fluorescence are investigated. We find that the second order correlation function is dependent on the squeezing parameter (|M|) of the squeezed vacuum. There is a critical value (Γ/4g) for |M|,above which the second order correlation function oscillates around 1. This indicates that the two photon fluorescence can exhibit both antibunching and bunching effects. Below the critical value, the second order correlation function does not oscillate and the two photon fluorescence exhibits the antibunching effect only.