Finishing off this week's series of announcements of the results of its long-term securities auctions, the Treasury Department on Tuesday revealed this month's auction of $21 billion worth of thirty-year bonds attracted above average demand.
The thirty-year bond auction drew a high yield of 4.344 percent and a bid-to-cover ratio of 2.43.
The Treasury sold $24 billion worth of thirty-year bonds last month, drawing a high yield of 4.769 percent and a bid-to-cover ratio of 2.24.
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 thirty-year bond auctions had an average bid-to-cover ratio of 2.37.
On Monday, the Treasury revealed this month's auction of $50 billion worth of three-year notes attracted well below average demand, while this month's auction of $37 billion worth of ten-year notes attracted modestly above average demand.
