FX.co ★ Treasury Department Reveals Twenty-Year Bond Auction Details

The Treasury Department on Thursday announced the details of this month's auction of twenty-year bonds.

The Treasury said it plans to sell $13 billion worth of twenty-year bonds, with the results of the auction due to be announced next Tuesday.

Last month, the Treasury sold $16 billion worth of twenty-year bonds, attracting below average demand.

The twenty-year bond auction drew a high yield of 4.499 percent and a bid-to-cover ratio of 2.56, while the ten previous twenty-year bond auctions had an average bid-to-cover ratio of 2.65.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

Earlier this week, the Treasury revealed this month's auctions of three-year and ten-year notes and thirty-year bonds all attracted above average demand.