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Treasury Reveals Details Of This Month's Twenty-Year Bond Auction

The Treasury Department on Thursday revealed the details of this month's auction of twenty-year bonds.

The Treasury said it plans to sell $20 billion worth of twenty-year bonds, with the results of the auction due to be announced next Wednesday.

Last month, the Treasury sold $17 billion worth of twenty-year bonds, drawing a high yield of 1.059 percent and a bid-to-cover ratio of 2.43.

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 Treasury sold $20 billion worth of twenty-year bonds in May in the first twenty-year bond auction since 1986.

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