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Thirty-Year Bond Auction Attracts Average Demand

Finishing off this week's series of long-term securities auctions, the Treasury Department sold $13 billion worth of thirty-year bonds on Tuesday, attracting average demand.

The thirty-year bond auction drew a high yield of 3.109 percent and a bid-to-cover ratio of 2.38.

Last month, the Treasury sold $16 billion worth of thirty-year bonds, drawing a high yield of 3.121 percent and a bid-to-cover ratio of 2.26.

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 2.36.

Today's thirty-year bond auction came after the Treasury sold $28 billion worth of three-year notes and $21 billion worth of ten-year notes on Monday.

by RTTNews Staff Writer

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