WASHINGTON (dpa-AFX) - Finishing off this week's announcements of the results of its long-term securities auctions, the Treasury Department on Thursday revealed this month's sale of $22 billion worth of thirty-year bonds attracted below average demand.
The thirty-year bond auction drew a high yield of 4.405 percent and a bid-to-cover ratio of 2.30.
Last month, the Treasury also sold $22 billion worth of thirty-year bonds, drawing a high yield of 4.403 percent and a bid-to-cover ratio of 2.49.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
The ten previous thirty-year bond auctions had an average bid-to-cover ratio of 2.40.
Earlier this week, the Treasury revealed this month's auctions of $58 billion worth of three-year notes and $39 billion worth of ten-year notes attracted above average demand.
The Treasury Department also announced the details of this month's auction of twenty-year bonds on Thursday.
The Treasury revealed it plans to sell $13 billion worth of twenty-year bonds, with the results of the auction due to be announced next Wednesday.
Last month, the Treasury also sold $13 billion worth of twenty-year bonds, attracting above average demand.
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