The Treasury Department on Thursday revealed the details of this month's auction of twenty-year bonds.
The Treasury announced it plans to sell $12 billion worth of twenty-year bonds, with the results of the sale due to announced next Tuesday, September 20.
Last month, the Treasury sold $15 billion worth of twenty-year bonds, attracting well below average demand.
The twenty-year bond auction drew a high yield of 3.380 percent and a bid-to-cover ratio of 2.30, while the ten previous twenty-year bond auctions had an average bid-to-cover ratio of 2.54.
Earlier this week, the Treasury announced the results of this month's auctions of $41 billion worth of three-year notes, $32 billion worth of ten-year notes and $18 billion worth of thirty-year bonds.
The three-year note and thirty-year bond auctions attracted above average demand, while the ten-year note auction attracted below average demand.
