Continuing this week’s series of long-term securities auctions, the Treasury Department sold $20 billion worth of ten-year notes on Wednesday, attracting slightly above average demand.
The ten-year note auction drew a high yield of 2.342 percent and a bid-to-cover ratio of 2.58.
The Treasury also sold $20 billion worth of ten-year notes last month, drawing a high yield of 2.485 percent and a bid-to-cover ratio of 2.39.
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 ten-year note auctions had an average bid-to-cover ratio of 2.49.
On Thursday, the Treasury is due to finish off this week’s series of long-term securities auctions with the sale of $12 billion worth of thirty-year bonds.
The material has been provided by InstaForex Company – www.instaforex.com
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