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FX.co ★ Ten-Year Note Auction Attracts Modestly Above Average Demand

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typeContent_19130:::2023-10-11T17:14:00

Ten-Year Note Auction Attracts Modestly Above Average Demand

The Treasury Department announced the results of this month's auction of $35 billion worth of ten-year notes on Wednesday, revealing the sale attracted modestly above average demand.

The ten-year note auction drew a high yield of 4.610 percent and a bid-to-cover ratio of 2.50.

Last month, the Treasury also sold $35 billion worth of ten-year notes, drawing a high yield of 4.289 percent and a bid-to-cover ratio of 2.52.

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 ten-year note auctions had an average bid-to-cover ratio of 2.46.

On Tuesday, the Treasury revealed this month's auction of $46 billion worth of three-year notes attracted below average demand.

The Treasury is due to announce the results of this month's auction of $20 billion worth of thirty-year bonds on Thursday.

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