The U.S. Treasury Department disclosed plans on Thursday for this month's auction of 20-year bonds. They intend to offer $16 billion in these bonds, with the auction results to be unveiled the following Wednesday.
In comparison, last month saw the Treasury auction of $13 billion in 20-year bonds, which garnered roughly average interest.
The auction achieved a high yield of 4.590% and recorded a bid-to-cover ratio of 2.59, slightly below the average bid-to-cover ratio of 2.61 observed across the previous ten auctions for similar bonds.
The bid-to-cover ratio serves as an indicator of demand, revealing the number of bids received for every dollar of securities on offer.
