Continuing this week's series of announcement of the results of its long-term securities auctions, the Treasury Department on Wednesday revealed this month's auction of $49 billion worth of five-year notes attracted average demand.
The five-year note auction drew a high yield of 4.659 percent and a bid-to-cover ratio of 2.52.
The Treasury sold $46 billion worth of five-year notes last month, drawing a high yield of 4.400 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 five-year note auctions had an average bid-to-cover ratio of 2.52.
On Tuesday, the Treasury Department revealed this month's auction of $48 billion worth of two-year notes also attracted average demand.
The Treasury is due to announce the results of this month's auction of $37 billion worth of seven-year notes on Thursday.
