WASHINGTON (dpa-AFX) - The Treasury Department announced the results of this month's auction of $13 billion worth of twenty-year bonds on Tuesday, revealing the sale attracted below average demand.
The twenty-year bond auction drew a high yield of 4.039 percent and a bid-to-cover ratio of 2.51.
Last month, the Treasury sold $16 billion worth of twenty-year bonds, drawing a high yield of 4.160 percent and a bid-to-cover ratio of 2.54.
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 twenty-year bond auctions had an average bid-to-cover ratio of 2.61.
On Thursday, the Treasury is scheduled to announce the details of this month's auctions of two-year, five-year and seven-year notes.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
