Ten-Year Note Auction Attracts Modestly Above Average Demand
(RTTNews) - On Wednesday, the Treasury Department announced the results of its auction of $24 billion worth of ten-year notes, revealing the sale attracted modestly above average demand.
The ten-year note auction drew a high yield of 1.739 percent and a bid-to-cover ratio of 2.46.
Last month, the Treasury sold $27 billion worth of ten-year notes, drawing a high yield of 1.670 percent and a bid-to-cover ratio of 2.20.
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 ten-year note auctions had an average bid-to-cover ratio of 2.42.
Looking ahead, the Treasury is due to announce the results of its auction of $16 billion worth of thirty-year bonds on Thursday.