A day after revealing average demand for this month's two-year note auction, the Treasury Department announced Tuesday that this month's auction of $46 billion worth of five-year notes attracted slightly above average demand.
The five-year note auction drew a high yield of 2.860 percent and a bid-to-cover ratio of 2.46.
Last month, the Treasury sold $47 billion worth of five-year notes, drawing a high yield of 3.271 percent and a bid-to-cover ratio of 2.28.
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 five-year note auctions had an average bid-to-cover ratio of 2.43.
The Treasury is due to announce the results of this month's auction of $38 billion worth of seven-year notes on Thursday.
