30-year bond auction attracts above-average demand
(RTTNews) – The Treasury Department ended this week’s round of long-term securities auctions on Thursday, revealing that this month’s sale of $22 billion in thirty-year bonds has attracted higher demand. on average.
The thirty-year bond auction attracted a high yield of 2.997% and a bid-cover ratio of 2.38.
Last month, the Treasury sold $20 billion worth of thirty-year bonds, attracting a high yield of 2.815% and a bid-to-cover ratio of 2.30.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for every dollar of securities sold.
The last ten 30-year bond auctions had an average bid-to-cover ratio of 2.31.
The Treasury revealed earlier this week that this month’s three-year note auctions attracted well above average demand, while this month’s ten-year note auctions attracted average demand .
Earlier today, the Treasury announced details of this month’s 20-year bond auction.
The Treasury has announced its intention to sell $17 billion worth of 20-year bonds, with the results of the auction to be announced next Wednesday.
Last month, the Treasury sold $16 billion worth of 20-year bonds, attracting well above average demand.
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