Thirty-Year Bond Auction Attracts Average Demand

(RTTNews) - The Treasury Department announced the results of this month's auction of $22 billion worth of thirty-year bonds on Thursday, revealing the sale attracted average demand.

The thirty-year bond auction drew a high yield of 4.844 percent and a bid-to-cover ratio of 2.43.

Last month, the Treasury sold $25 billion worth of thirty-year bonds last month, drawing a high yield of 4.819 percent and a bid-to-cover ratio of 2.31.

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 thirty-year bond auctions had an average bid-to-cover ratio of 2.42.

Earlier in the day, the Treasury revealed plans to sell $13 billion worth of twenty-year bonds this month, with the results due to be announced next Monday.

The Treasury announced the results of this month's auctions of $58 billion worth of three-year notes and $39 billion worth of ten-year notes earlier this week, revealing the sales attracted modestly below average demand.