On Thursday, the Treasury Department disclosed the specifics of the upcoming auction for twenty-year bonds intended to be held later in the month. The department plans to offload twenty-year bonds valued at $13 billion. The auction results are anticipated next Tuesday.
In the previous month, the department traded twenty-year bonds worth $16 billion, although the interest shown was below the average. Yield from the auction peaked at 4.595 percent with a bid-to-cover ratio standing at 2.39. This outcome was lower compared to the average bid-to-cover ratio of 2.63 seen in the preceding ten auctions of twenty-year bonds.
Furthermore, the Treasury Department announced earlier in the week, the results from the sale of three-year notes, ten-year notes, and thirty-year bonds worth $56 billion, $39 billion, and $22 billion respectively. Although the three-year note auction saw lower than average demand, the ten-year note auction experienced average interest. However, the thirty-year bond auction garnered above-average interest from bidders.
