After revealing average demand for this month’s three-year note auction on Tuesday, the Treasury Department announced Wednesday that this month’s auction of $41 billion worth of ten-year notes attracted slightly above average demand.
The ten-year note auction drew a high yield of 1.684 percent and a bid-to-cover ratio of 2.45.
Last month, the Treasury sold $38 billion worth of ten-year notes, drawing a high yield of 1.680 percent and a bid-to-cover ratio of 2.36.
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 240.
On Thursday, the Treasury is scheduled to announce the results of this month’s auction of $27 billion worth of thirty-year bonds.
The material has been provided by InstaForex Company – www.instaforex.com