The Treasury Department released the outcomes of this month's auction for $13 billion in twenty-year bonds on Tuesday, highlighting that the event attracted less than average demand.
The twenty-year bond auction posted a high yield of 4.039 percent with a bid-to-cover ratio of 2.51. In comparison, last month's sale of $16 billion in twenty-year bonds yielded a high of 4.160 percent and a bid-to-cover ratio of 2.54.
The bid-to-cover ratio serves as a demand indicator, showing the number of bids for every dollar of securities available for purchase. Notably, the average bid-to-cover ratio for the previous ten twenty-year bond auctions was 2.61.
The Treasury is set to disclose the specifics of this month's auctions for two-year, five-year, and seven-year notes on Thursday.
