(RTTNews) - After announcing the results of its two-year note auction earlier on Monday, the Treasury Department revealed that its auction of $43 billion worth of five-year notes attracted above average demand.
The five-year note auction drew a high yield of 0.394 percent and a bid-to-cover ratio of 2.71.
The Treasury sold $41 billion worth of five-year notes last month, drawing a high yield of 0.535 percent and a bid-to-cover ratio of 2.53.
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 2.41.
The Treasury revealed earlier in the day that its auction of $42 billion worth of two-year notes attracted strong demand.
Looking ahead, the Treasury is due to announce the results of its auction of $35 billion worth of seven-year notes on Tuesday.
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