Thirty-Year Bond Auction Attracts Above Average Demand

After yesterday's announcement of above average demand for this month's ten-year note auction, the Treasury Department revealed on Thursday that this month's auction of $24 billion worth of thirty-year bonds also attracted strong demand.

The thirty-year bond auction drew a high yield of 1.910 percent and a bid-to-cover ratio of 2.49.

Last month, the Treasury sold $27 billion worth of thirty-year bonds, drawing a high yield of 2.040 percent and a bid-to-cover ratio of 2.21.

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 thirty-year bond auctions had an average bid-to-cover ratio of 2.31.

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