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Treasury Auctions $29 Billion Worth Of Seven-Year Notes

The Treasury Department sold $29 billion worth of seven-year notes on Wednesday on the heels of the sale of $35 billion worth of five-year notes on Tuesday.

The seven-year note auction drew a high yield of 1.233 percent and a bid-to-cover ratio of 2.72.

Last month, the Treasury also sold $29 billion worth of seven-year notes, drawing a high yield of 1.045 percent and a bid-to-cover ratio of 2.81.

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 seven-year note auctions had an average bid-to-cover ratio of 2.75.

by RTT Staff Writer

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