logo
Plus   Neg
Share
Email

Ten-Year Note Auction Attracts Below Average Demand

The Treasury Department announced the results of this month's auction of $29 billion worth of ten-year notes on Tuesday, revealing the sale attracted below average demand.

The ten-year note auction drew a high yield of 0.832 percent and a bid-to-cover ratio of 2.26.

Last month, the Treasury sold $32 billion worth of ten-year notes, drawing a high yield of 0.700 percent and a bid-to-cover ratio of 2.69.

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 2.45.

On Thursday, the Treasury is due to announce the results of this month's auction of $19 billion worth of thirty-year bonds.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT