Five-Year Note Auction Attracts Below Average Demand

Following yesterday’s auction of $26 billion worth of two-year notes, the Treasury Department sold $34 billion worth of five-year notes on Wednesday, attracting below average demand.

The five-year note auction drew a high yield of 1.937 percent and a bid-to-cover ratio of 2.29

Last month, the Treasury also sold $34 billion worth of five-year notes, drawing a high yield of 1.988 percent and a bid-to-cover ratio of 2.38.

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 five-year note auctions had an average bid-to-cover ratio of 2.45.

The Treasury Department is due to finish off this week’s series of long-term securities auctions with the sale of $28 billion worth of seven-year notes on Thursday.

The material has been provided by InstaForex Company – www.instaforex.com

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Primary Dealer accepted Bids 21.25 Pct of Amount tendered in U.s. 5-Year Notes Sale, Directs take 65.48 Pct of Bid Amount,

PRIMARY DEALER ACCEPTED BIDS 21.25 PCT OF AMOUNT TENDERED IN U.S. 5-YEAR NOTES SALE, DIRECTS TAKE 65.48 PCT OF BID AMOUNT, INDIRECTS 97.62 PCT
The material has been provided by InstaForex Company – www.instaforex.com

The post Primary Dealer accepted Bids 21.25 Pct of Amount tendered in U.s. 5-Year Notes Sale, Directs take 65.48 Pct of Bid Amount, appeared first on forexnewstoday.net.

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