logo
Plus   Neg
Share
Email

Ten-Year Note Auction Attracts Below Average Demand

Continuing this week's series of long-term securities auctions after yesterday's sale of $38 billion worth of three-year notes, the Treasury Department sold $27 billion worth of ten-year notes on Wednesday, attracting below average demand.

The ten-year note auction drew a high yield of 2.689 percent and a bid-to-cover ratio of 2.35.

Last month, the Treasury sold $24 billion worth of ten-year notes, drawing a high yield of 2.728 percent and a bid-to-cover ratio of 2.51.

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 2.55.

The Treasury is due to finish off this week's long-term securities auctions on Thursday with the sale of $19 billion worth of thirty-year bonds.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT