The Treasury Department has disclosed the outcomes of this month's auction of $13 billion in twenty-year bonds, reporting a slightly higher-than-average demand. The auction resulted in a high yield of 4.466 percent and a bid-to-cover ratio of 2.68.
In comparison, last month's auction of an identical amount of twenty-year bonds yielded 4.452 percent with a bid-to-cover ratio of 2.74. The bid-to-cover ratio, which measures demand by indicating the volume of bids per dollar of securities sold, averaged 2.62 over the last ten such auctions.
Furthermore, the Treasury is scheduled to announce details of this month's auctions of two-year, five-year, and seven-year notes on Thursday.
