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Treasury Announces Twenty-Year Bond Auction Details

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

The Treasury said it plans to sell 24 billion worth of twenty-year bonds, with the results of the auction due to be announced next Wednesday.

Last month, the Treasury also sold $24 billion worth of twenty-year bonds, drawing a high yield of 2.290 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.

Since being reintroduced last May, the ten previous twenty-year bond auctions had an average bid-to-cover ratio of 2.38.

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