The Treasury Department has disclosed the outcome of this month's sale of thirty-year bonds valued at $25 billion. The sale drew an average level of interest.
The auction of the thirty-year bonds resulted in a high yield of 4.635 percent and a bid-to-cover ratio of 2.41. The preceding month saw the Treasury selling $22 billion worth of thirty-year bonds that attracted a high yield of 4.671 percent and a bid-to-cover ratio of 2.37.
The bid-to-cover ratio, a gauge of demand, signifies the volume of bids placed for each dollar's worth of securities for sale. Over the last ten auctions of the thirty-year bonds, the average bid-to-cover ratio was 2.39.
Earlier in the week, the Treasury disclosed the results of this month's auctions of three-year notes and ten-year notes valued at $58 billion and $42 billion respectively, which also drew an average degree of demand.