The Treasury Department disclosed the outcomes of the latest auction, which involved the sale of $13 billion in twenty-year bonds, indicating higher-than-average interest. The auction achieved a high yield of 4.452% and a bid-to-cover ratio of 2.74.
In the previous month, the Treasury auctioned $16 billion in twenty-year bonds, which attained a high yield of 4.635% and a bid-to-cover ratio of 2.51.
The bid-to-cover ratio—a key metric of demand—represents the number of bids received for each dollar of securities offered. Over the last ten auctions of twenty-year bonds, this ratio has averaged 2.61.
Additionally, the Treasury is scheduled to release the specifics of this month's auctions for two-year, five-year, and seven-year notes on Thursday.
