The Treasury Department recently announced the results of the latest auction featuring $22 billion in thirty-year bonds. The sale witnessed average demand.
The auction resulted in a high yield of 4.671 percent with a bid-to-cover ratio of 2.37; the ratio being an indicator of demand which identifies the volume of bids received for each dollar worth of securities sold.
Comparatively, last month's auction of $22 billion in thirty-year bonds registered a high yield of 4.331 percent and a bid-to-cover ratio of 2.47.
A review of the last ten thirty-year bond auctions reveals an average bid-to-cover ratio of 2.39, suggesting consistently moderate demand.
Earlier in the week, the Treasury Department shared that the auctions of $58 billion worth of three-year notes and $39 billion worth of ten-year notes attracted below average demand.
In addition, the Treasury has announced the upcoming auction details of $13 billion worth of twenty-year bonds.
