logo
Plus   Neg
Share
Email

Ten-Year Note Auction Attracts Below Average Demand

Continuing this week's series of long-term securities auctions, 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 2.479 percent and a bid-to-cover ratio of 2.17.

The Treasury sold $24 billion worth of ten-year notes last month, drawing a high yield of 2.466 percent and a bid-to-cover ratio of 2.55.

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 2.50.

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

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT