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Treasury Auctions $18 Billion Worth Of Thirty-Year Bonds

Finishing off this week's series of long-term securities auctions, the Treasury Department sold $18 billion worth of thirty-year bonds on Thursday, attracting slightly below average demand.

The thirty-year bond auction drew a high yield of 3.090 percent and a bid-to-cover ratio of 2.27.

Last month, the Treasury sold $14 billion worth of thirty-year bonds, drawing a high yield of 2.958 percent and a bid-to-cover ratio of 2.34.

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 2.35.

Today's thirty-year bond auction came after the Treasury sold $34 billion worth of three-year notes on Tuesday and $26 billion worth of ten-year notes on Wednesday.

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