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FX.co ★ Thirty-Year Bond Auction Attracts Average Demand

Thirty-Year Bond Auction Attracts Average Demand

The Treasury Department announced the results of this month's auction of $24 billion worth of thirty-year bonds on Thursday, revealing the sale attracted average demand.

The thirty-year bond auction drew a high yield of 2.172 percent and a bid-to-cover ratio of 2.29.

Last month, the Treasury sold $27 billion worth of thirty-year bonds, drawing a high yield of 2.395 percent and a bid-to-cover ratio of 2.22.

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 2.31.

Earlier in the day, the Treasury revealed plans to sell $24 billion worth of twenty-year bonds this month, with the results due to be announced next Tuesday.

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