On Tuesday, the Treasury Department shared the results from this month's auction of twenty-year bonds valued at $13 billion. The sale noted a significantly higher-than-average demand.
The auction of the twenty-year bonds noted a high yield of 4.542 percent and a bid-to-cover ratio of 2.79.
Last month, on comparison, the Treasury sold $16 billion worth of twenty-year bonds, which drew a high yield of 4.595 percent and a bid-to-cover ratio of 2.39.
The bid-to-cover ratio is an important metric to determine demand, indicating the bid amount for each dollar's worth of securities sold.
The average bid-to-cover ratio from the last ten twenty-year bond auctions was 2.61.
This Thursday, the Treasury will disclose the details of this month's two-year, five-year, and seven-year notes auction.
